Deere John Capital (DE22B) 10-Q 26 Aug 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Aug. 01, 2021shares
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Aug. 1, 2021
Entity File Number	1-6458
Entity Registrant Name	DEERE JOHN CAPITAL CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-2386361
Entity Address, Address Line One	10587 Double R Boulevard, Suite 100
Entity Address, City or Town	Reno
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89521
City Area Code	775
Local Phone Number	786-5527
Title of 12(b) Security	2.75% Senior Notes Due 2022
Trading Symbol	DE22B
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	2,500
Current Fiscal Year End Date	--10-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000027673
Amendment Flag	false

Statement of Consolidated Incom

Statement of Consolidated Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020
Revenues
Finance income earned on retail notes	$ 234.4	$ 234.9	$ 705.9	$ 701.4
Revolving charge account income	77.3	87.8	216.1	242.7
Finance income earned on wholesale receivables	77.5	84.6	231.1	305.3
Lease revenues	255.7	270.3	775.5	817.8
Other income	38	18.4	86.6	47.5
Total revenues	682.9	696	2,015.2	2,114.7
Expenses
Interest expense	114.1	161.3	373.1	597.7
Operating expenses:
Administrative and operating expenses	105.5	92	304.3	357.9
Fees paid to John Deere	40.8	24.8	111.7	73
Provision (credit) for credit losses	15.7	16	(0.5)	100.8
Depreciation of equipment on operating leases	180.1	211.8	559.5	639.6
Total operating expenses	342.1	344.6	975	1,171.3
Total expenses	456.2	505.9	1,348.1	1,769
Income of consolidated group before income taxes	226.7	190.1	667.1	345.7
Provision for income taxes	41.5	44.4	139.5	75.9
Income of consolidated group	185.2	145.7	527.6	269.8
Equity in income of unconsolidated affiliate	0.7	0.5	2.2	1.6
Net income	185.9	146.2	529.8	271.4
Less: Net income attributable to noncontrolling interests	0.2		0.2	0.1
Net income attributable to the Company	$ 185.7	$ 146.2	$ 529.6	$ 271.3

Statement of Consolidated Compr

Statement of Consolidated Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020
Statement of Consolidated Comprehensive Income
Net income	$ 185.9	$ 146.2	$ 529.8	$ 271.4
Other comprehensive income (loss), net of income taxes
Cumulative translation adjustment	(16.7)	50	22.6	28.2
Unrealized gain (loss) on derivatives	0.6	4.2	5.9	(4.8)
Unrealized gain (loss) on debt securities	(0.2)	0.6	(0.1)
Other comprehensive income (loss), net of income taxes	(16.3)	54.8	28.4	23.4
Comprehensive income of consolidated group	169.6	201	558.2	294.8
Less: Comprehensive income attributable to noncontrolling interests	0.2		0.2	0.1
Comprehensive income attributable to the Company	$ 169.4	$ 201	$ 558	$ 294.7

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Aug. 01, 2021	Nov. 01, 2020	Aug. 02, 2020
Assets
Cash and cash equivalents	$ 682.7	$ 674.6	$ 624.9
Marketable securities	2.1	2.2	2.4
Receivables:
Total receivables	36,683.2	33,557.3	33,649.3
Allowance for credit losses	(139)	(129.1)	(140.6)
Total receivables - net	36,544.2	33,428.2	33,508.7
Other receivables	96.6	88.1	106.9
Receivables from John Deere	333.7	583.2	804.5
Equipment on operating leases - net	4,963.8	5,297.8	5,257.2
Notes receivable from John Deere	366	350	366.8
Investment in unconsolidated affiliate	21.6	19.3	18.9
Deferred income taxes	34.9	27.1	37.3
Other assets	367.2	386.7	427.8
Total Assets	43,412.8	40,857.2	41,155.4
Short-term borrowings:
Commercial paper and other notes payable	507	187.5	1,012
Securitization borrowings	5,264.6	4,656.2	5,324.1
John Deere	5,859.2	5,249.5	3,796.3
Current maturities of long-term borrowings	5,746	5,741.6	4,910.2
Total short-term borrowings	17,376.8	15,834.8	15,042.6
Other payables to John Deere	45.7	30.1	42.6
Accounts payable and accrued expenses	839	922.3	876
Deposits withheld from dealers and merchants	125.5	114.8	105.6
Deferred income taxes	288.9	345.9	423.3
Long-term borrowings	20,136.7	19,311.1	20,492.1
Total liabilities	38,812.6	36,559	36,982.2
Commitments and contingencies (Note 9)
Stockholder's equity:
Common stock, without par value (issued and outstanding - 2,500 shares owned by John Deere Financial Services, Inc.)	1,482.8	1,482.8	1,482.8
Retained earnings	3,165	2,891.6	2,762.9
Accumulated other comprehensive loss	(49.4)	(77.8)	(74)
Total Company stockholder's equity	4,598.4	4,296.6	4,171.7
Noncontrolling interests	1.8	1.6	1.5
Total stockholder's equity	4,600.2	4,298.2	4,173.2
Total Liabilities and Stockholder's Equity	43,412.8	40,857.2	41,155.4
Retail notes | Unrestricted
Receivables:
Total receivables	19,009.6	17,158	15,112.4
Retail notes | Securitized
Receivables:
Total receivables	5,408.2	4,689.2	5,446.2
Revolving charge accounts
Receivables:
Total receivables	3,687.7	3,827.4	3,918.3
Allowance for credit losses	(18.1)	(42.3)	(42.3)
Wholesale Receivables
Receivables:
Total receivables	7,731.2	7,093.3	8,428.8
Allowance for credit losses	(11.5)	(9.9)	(9.3)
Financing Leases
Receivables:
Total receivables	$ 846.5	$ 789.4	$ 743.6

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - shares	Aug. 01, 2021	Nov. 01, 2020	Aug. 02, 2020
Consolidated Balance Sheet
Common stock, issued shares	2,500	2,500	2,500
Common stock, outstanding shares	2,500	2,500	2,500

Statement of Consolidated Cash

Statement of Consolidated Cash Flows - USD ($) $ in Millions	9 Months Ended
	Aug. 01, 2021	Aug. 02, 2020
Cash Flows from Operating Activities:
Net income	$ 529.8	$ 271.4
Adjustments to reconcile net income to net cash provided by operating activities:
Provision (credit) for credit losses	(0.5)	100.8
Provision for depreciation and amortization	576.6	652.2
Credit for deferred income taxes	(59.8)	(106.3)
Impairment charges		30.8
Undistributed earnings of unconsolidated affiliate	(2)	(1.4)
Change in accounts payable and accrued expenses	(26.7)	(16.1)
Change in accrued income taxes payable/receivable	(22.8)	32
Other	48.8	129.3
Net cash provided by operating activities	1,043.4	1,092.7
Cash Flows from Investing Activities:
Cost of receivables acquired (excluding wholesale)	(16,373.9)	(13,844.2)
Collections of receivables (excluding wholesale)	13,854.5	12,760.9
(Increase) decrease in wholesale receivables - net	(578.3)	353.8
Cost of equipment on operating leases acquired	(1,290.3)	(1,359.4)
Proceeds from sales of equipment on operating leases	1,121.4	978.3
Cost of notes receivable acquired from John Deere	(234.4)	(163.9)
Collections of notes receivable from John Deere	229.2	78.2
Other	(2.1)	(44)
Net cash used for investing activities	(3,273.9)	(1,240.3)
Cash Flows from Financing Activities:
Increase (decrease) in commercial paper and other notes payable - net	319.5	(444.5)
Increase in securitization borrowings - net	610.4	1,048.5
Increase in payable to John Deere - net	578.4	1,775.8
Proceeds from issuance of long-term borrowings	5,210.4	3,062.5
Payments of long-term borrowings	(4,214.2)	(5,008.7)
Dividends paid	(230)	(250)
Debt issuance costs	(27.7)	(21.9)
Net cash provided by financing activities	2,246.8	161.7
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	3.9	(0.9)
Net increase in cash, cash equivalents, and restricted cash	20.2	13.2
Cash, cash equivalents, and restricted cash at beginning of period	769.4	710.9
Cash, cash equivalents, and restricted cash at end of period	$ 789.6	$ 724.1

Statement of Consolidated Cas_2

Statement of Consolidated Cash Flows (Parenthetical) - USD ($) $ in Millions	Aug. 01, 2021	Nov. 01, 2020	Aug. 02, 2020	Nov. 03, 2019
Statement of Consolidated Cash Flows
Restricted cash	$ 106.9	$ 94.8	$ 99.2	$ 78.3

Statement of Changes in Consoli

Statement of Changes in Consolidated Stockholder's Equity - USD ($) $ in Millions	Common Stock	Retained EarningsCumulative Effect from Adoption	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Non-Controlling Interests	Cumulative Effect from Adoption	Total
Balance at Nov. 03, 2019	$ 1,482.8		$ 2,741.6	$ (97.4)	$ 1.4		$ 4,128.4
Increase (Decrease) in Stockholder's Equity
Net income			271.3		0.1		271.4
Other comprehensive income (loss)				23.4			23.4
Dividends declared			(250)				(250)
Balance at Aug. 02, 2020	1,482.8		2,762.9	(74)	1.5		4,173.2
Balance at May. 03, 2020	1,482.8		2,641.7	(128.8)	1.5		3,997.2
Increase (Decrease) in Stockholder's Equity
Net income			146.2				146.2
Other comprehensive income (loss)				54.8			54.8
Dividends declared			(25)				(25)
Balance at Aug. 02, 2020	1,482.8		2,762.9	(74)	1.5		4,173.2
Balance (ASU 2016-13) at Nov. 01, 2020		$ (26.2)				$ (26.2)
Balance at Nov. 01, 2020	1,482.8		2,891.6	(77.8)	1.6		4,298.2
Increase (Decrease) in Stockholder's Equity
Net income			529.6		0.2		529.8
Other comprehensive income (loss)				28.4			28.4
Dividends declared			(230)				(230)
Balance at Aug. 01, 2021	1,482.8		3,165	(49.4)	1.8		4,600.2
Balance at May. 02, 2021	1,482.8		3,074.3	(33.1)	1.6		4,525.6
Increase (Decrease) in Stockholder's Equity
Net income			185.7		0.2		185.9
Other comprehensive income (loss)				(16.3)			(16.3)
Dividends declared			(95)				(95)
Balance at Aug. 01, 2021	$ 1,482.8		$ 3,165	$ (49.4)	$ 1.8		$ 4,600.2

Organization and Consolidation

Organization and Consolidation	9 Months Ended
	Aug. 01, 2021
Organization and Consolidation
Organization and Consolidation	(1)  Organization and Consolidation John Deere Capital Corporation (Capital Corporation) and its subsidiaries are collectively called the Company. John Deere Financial Services, Inc. (JDFS), a wholly-owned finance holding subsidiary of Deere & Company, owns all of the outstanding common stock of Capital Corporation. The Company provides and administers financing for retail purchases of new equipment manufactured by Deere & Company’s production and precision agriculture operations, small agriculture and turf operations, and construction and forestry operations and used equipment taken in trade for this equipment. The Company generally purchases retail installment sales and loan contracts (retail notes) from Deere & Company and its wholly-owned subsidiaries (collectively called John Deere). John Deere generally acquires these retail notes through John Deere retail dealers. The Company also purchases and finances a limited amount of non-Deere retail notes. The Company also finances and services revolving charge accounts, in most cases acquired from and offered through merchants in the agriculture and turf and construction and forestry markets (revolving charge accounts). The Company also provides wholesale financing for inventories of John Deere agriculture and turf and construction and forestry equipment for dealers of those products (wholesale receivables). In addition, the Company leases John Deere equipment and a limited amount of non-Deere equipment to retail customers (financing and operating leases). The Company also offers credit enhanced international export financing to select customers and dealers, which generally involves John Deere products. Retail notes, revolving charge accounts, wholesale receivables, and financing leases are collectively called “Receivables.” Receivables and equipment on operating leases are collectively called “Receivables and Leases.” The Company generally secures its Receivables, other than certain revolving charge accounts, by retaining as collateral a security interest in the goods associated with those Receivables or with the use of other collateral. Beginning in fiscal year 2021, John Deere implemented a new operating model and reporting structure. With this change, John Deere’s agriculture and turf operations were divided into two new segments: production and precision agriculture and small agriculture and turf. There were no changes to John Deere’s construction and forestry or financial services segments. Receivables and Leases managed by the Company continue to be evaluated by market (agriculture and turf and construction and forestry). References to agriculture and turf include both production and precision agriculture and small agriculture and turf. The Company has prepared its interim consolidated financial statements, without audit, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the U.S. have been condensed or omitted as permitted by such rules and regulations. All adjustments, consisting of normal recurring adjustments, have been included. Management believes the disclosures are adequate to present fairly the financial position, results of operations, and cash flows at the dates and for the periods presented. It is suggested these interim consolidated financial statements be read in conjunction with the consolidated financial statements and the notes thereto appearing in the Company’s latest annual report on Form 10-K. Results for interim periods are not necessarily indicative of those to be expected for the fiscal year. The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts and related disclosures. The COVID pandemic has resulted in uncertainties in the Company’s business, which may result in actual outcomes differing from those estimates. The Company uses a 52/53 week fiscal year with quarters ending on the last Sunday in the reporting period. The third quarter ends for fiscal year 2021 and 2020 were August 1, 2021 and August 2, 2020, respectively. Both third quarters contained 13 weeks, while both year-to-date periods contained 39 weeks. Unless otherwise stated, references to particular years, quarters, or months refer to the Company's fiscal years generally ending in October and the associated periods in those fiscal years.

New Accounting Standards

New Accounting Standards	9 Months Ended
	Aug. 01, 2021
New Accounting Standards
New Accounting Standards	(2)  New Accounting Standards New Accounting Standards Adopted In the first quarter of 2021, the Company adopted Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2016-13, Measurement of Credit Losses on Financial Instruments, which establishes Accounting Standards Codification (ASC) 326, Financial Instruments – Credit Losses. This ASU was adopted using a modified-retrospective The Company holds deposits from dealers (dealer deposits), which are recorded in deposits withheld from dealers and merchants, to absorb certain credit losses. Prior to adopting this ASU, the allowance for credit losses was estimated on probable credit losses incurred after consideration of recoveries from dealer deposits. The ASU considers dealer deposits and certain credit insurance contracts as freestanding credit enhancements. As a result, after adoption, credit losses recovered from dealer deposits and certain credit insurance contracts are presented in other income and no longer as part of the allowance for credit losses or the provision for credit losses. The ASU also modified the treatment of the estimated write-off on delinquent receivables by no longer including the estimated benefit of charges to the dealer deposits in the write-off amount (see Note 4). This change increases the estimated write-offs on delinquent financing receivables with the benefit of credit losses recovered from dealer deposits presented in other income. This benefit, in both situations, is recorded when the dealer deposits are charged and no longer based on estimated recoveries. The effects of adopting the ASU on the consolidated balance sheet were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ November 1 ​ Cumulative Effect ​ November 2 ​ ​ 2020 ​ from Adoption ​ 2020 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses ​ $ (129.1) ​ $ (19.7) ​ $ (148.8) Deferred income taxes ​ ​ 27.1 ​ ​ .7 ​ ​ 27.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable and accrued expenses ​ $ 922.3 ​ $ (.5) ​ $ 921.8 Deposits withheld from dealers and merchants ​ ​ 114.8 ​ ​ 13.5 ​ ​ 128.3 Deferred income taxes ​ ​ 345.9 ​ ​ (5.8) ​ ​ 340.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stockholder’s equity ​ ​ ​ ​ ​ ​ ​ ​ ​ Retained earnings ​ $ 2,891.6 ​ $ (26.2) ​ $ 2,865.4 ​ Note 4 contains additional disclosures as well as the Company’s updated allowance for credit losses accounting policy. The Company also adopted the following standards in 2021, none of which had a material effect on the Company’s consolidated financial statements: Accounting Standards Updates ​ ​ ​ No. 2018-15 Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which amends ASC 350-40, Intangibles – Goodwill and Other – Internal-Use Software No. 2019-04 Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments No. 2021-01 Reference Rate Reform (Topic 848): Scope ​ ​ ​ New Accounting Standards to be Adopted The Company will adopt the following standards in future periods, none of which are expected to have a material effect on the Company’s consolidated financial statements: Accounting Standards Updates ​ ​ ​ No. 2019-12 Simplifying the Accounting for Income Taxes, which amends ASC 740, Income Taxes No. 2020-08 Codification Improvements to Subtopic 310-20, Receivables – Nonrefundable Fees and Other Costs ​

Other Comprehensive Income Item

Other Comprehensive Income Items	9 Months Ended
	Aug. 01, 2021
Other Comprehensive Income Items
Other Comprehensive Income Items	(3)  Other Comprehensive Income Items The after-tax changes in accumulated other comprehensive income (loss) were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized Unrealized Accumulated ​ ​ Cumulative ​ Gain (Loss) ​ Gain (Loss) ​ Other ​ ​ Translation ​ on ​ on ​ Comprehensive ​ ​ Adjustment ​ Derivatives ​ Debt Securities ​ Income (Loss) Balance November 3, 2019 ​ $ (88.4) ​ $ (7.0) ​ $ (2.0) ​ $ (97.4) ​ Other comprehensive income (loss) items before reclassification ​ 28.2 ​ (13.9) ​ ​ ​ 14.3 ​ Amounts reclassified from accumulated other comprehensive income ​ ​ ​ ​ 9.1 ​ ​ ​ 9.1 ​ Net current period other comprehensive income (loss) ​ 28.2 ​ (4.8) ​ ​ ​ 23.4 ​ Balance August 2, 2020 ​ $ (60.2) ​ $ (11.8) ​ $ (2.0) ​ $ (74.0) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance November 1, 2020 ​ $ (69.5) ​ $ (6.7) ​ $ (1.6) ​ $ (77.8) ​ Other comprehensive income (loss) items before reclassification ​ 22.6 ​ (.6) ​ (.1) ​ 21.9 ​ Amounts reclassified from accumulated other comprehensive income ​ ​ ​ ​ 6.5 ​ ​ ​ 6.5 ​ Net current period other comprehensive income (loss) ​ 22.6 ​ 5.9 ​ (.1) ​ 28.4 ​ Balance August 1, 2021 ​ $ (46.9) ​ $ (.8) ​ $ (1.7) ​ $ (49.4) ​ ​ Amounts recorded in and reclassifications out of other comprehensive income (loss), and the income tax effects were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Before ​ Tax ​ After ​ ​ Tax ​ (Expense) ​ Tax Three Months Ended August 1, 2021 ​ Amount ​ Credit ​ Amount Cumulative translation adjustment $ (16.7) ​ ​ ​ ​ $ (16.7) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (.9) ​ $ .2 ​ (.7) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ 1.6 ​ ​ (.3) ​ ​ 1.3 ​ Net unrealized gain (loss) on derivatives ​ .7 ​ (.1) ​ .6 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ ​ ​ ​ (.2) ​ ​ (.2) ​ Total other comprehensive income (loss) ​ $ (16.0) ​ $ (.3) ​ $ (16.3) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended August 1, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 22.6 ​ ​ ​ ​ $ 22.6 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (.8) ​ $ .2 ​ (.6) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ 8.2 ​ ​ (1.7) ​ ​ 6.5 ​ Net unrealized gain (loss) on derivatives ​ 7.4 ​ (1.5) ​ 5.9 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.2) ​ ​ .1 ​ ​ (.1) ​ Total other comprehensive income (loss) ​ $ 29.8 ​ $ (1.4) ​ $ 28.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended August 2, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 50.0 ​ ​ ​ ​ $ 50.0 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (1.1) ​ $ .2 ​ (.9) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ 6.4 ​ ​ (1.3) ​ 5.1 ​ Net unrealized gain (loss) on derivatives ​ 5.3 ​ ​ (1.1) ​ 4.2 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ .6 ​ ​ ​ ​ ​ .6 ​ Total other comprehensive income (loss) ​ $ 55.9 ​ $ (1.1) ​ $ 54.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended August 2, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 28.2 ​ ​ ​ ​ $ 28.2 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (17.6) ​ $ 3.7 ​ (13.9) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ 11.5 ​ ​ (2.4) ​ 9.1 ​ Net unrealized gain (loss) on derivatives ​ (6.1) ​ 1.3 ​ (4.8) ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.8) ​ ​ .8 ​ ​ ​ ​ Total other comprehensive income (loss) ​ $ 21.3 ​ $ 2.1 ​ $ 23.4 ​ ​

Receivables

Receivables	9 Months Ended
	Aug. 01, 2021
Receivables
Receivables	(4)  Receivables Credit Quality The Company monitors the credit quality of Receivables based on delinquency status. Past due balances of Receivables still accruing finance income represent the total balance held (principal plus accrued interest) with any payment amounts 30 days or more past the contractual payment due date. Non-performing Receivables represent receivables for which the Company has ceased accruing finance income. Generally, when retail notes, revolving charge accounts financing lease Receivable balances are written off to the allowance for credit losses when, in the judgment of management, they are considered uncollectible. Generally, when retail notes and financing lease Due to the economic effects of COVID, the Company provided short-term payment relief to dealers and retail customers during 2020, and to a much lesser extent in 2021. The relief was provided in regional programs and on a case-by-case basis with customers that were generally current in their payment obligations. Receivables granted relief since the beginning of the pandemic that remained outstanding at August 1, 2021 represented approximately 3 percent of the Receivables balance. The majority of Receivables granted short-term relief are beyond the deferral period and have either resumed making payments or are reported as delinquent based on the modified payment schedule. The credit quality analysis of retail notes, financing leases, and revolving charge accounts (collectively, Customer Receivables) at August 1, 2021 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year of Origination ​ ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ Prior ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 8,075.6 ​ $ 6,472.1 ​ $ 3,246.0 ​ $ 1,695.6 ​ $ 733.9 ​ $ 207.4 ​ $ 3,570.9 ​ $ 24,001.5 30-59 days past due ​ ​ 31.1 ​ ​ 42.1 ​ ​ 25.1 ​ ​ 14.9 ​ ​ 5.3 ​ ​ 2.7 ​ ​ 11.4 ​ ​ 132.6 60-89 days past due ​ ​ 11.7 ​ ​ 21.4 ​ ​ 10.0 ​ ​ 4.4 ​ ​ 2.6 ​ ​ 1.1 ​ ​ 3.4 ​ ​ 54.6 90+ days past due ​ ​ .1 ​ ​ .5 ​ ​ .2 ​ ​ .2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1.0 Non-performing ​ ​ 11.0 ​ ​ 45.8 ​ ​ 31.6 ​ ​ 28.3 ​ ​ 13.1 ​ ​ 14.4 ​ ​ 5.7 ​ ​ 149.9 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 1,765.6 ​ ​ 1,413.7 ​ ​ 715.0 ​ ​ 281.3 ​ ​ 63.2 ​ ​ 10.6 ​ ​ 91.5 ​ ​ 4,340.9 30-59 days past due ​ ​ 28.2 ​ ​ 38.0 ​ ​ 21.8 ​ ​ 8.0 ​ ​ 2.7 ​ ​ .7 ​ ​ 2.9 ​ ​ 102.3 60-89 days past due ​ ​ 11.3 ​ ​ 16.1 ​ ​ 8.6 ​ ​ 4.2 ​ ​ 1.3 ​ ​ .3 ​ ​ 1.1 ​ ​ 42.9 90+ days past due ​ ​ 3.2 ​ ​ ​ ​ ​ 4.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 7.7 Non-performing ​ ​ 9.0 ​ ​ 44.1 ​ ​ 36.0 ​ ​ 17.7 ​ ​ 7.2 ​ ​ 3.8 ​ ​ .8 ​ ​ 118.6 Total Customer Receivables ​ $ 9,946.8 ​ $ 8,093.8 ​ $ 4,098.8 ​ $ 2,054.6 ​ $ 829.3 ​ $ 241.0 ​ $ 3,687.7 ​ $ 28,952.0 ​ The credit quality analysis of Customer Receivables at November 1, 2020 and August 2, 2020 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ November 1, 2020 ​ August 2, 2020 ​ ​ Retail Notes & Financing Leases ​ Revolving Charge Accounts ​ Total ​ Retail Notes & Financing Leases ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 18,341.2 ​ $ 3,710.3 ​ $ 22,051.5 ​ $ 17,188.9 ​ $ 3,794.6 ​ $ 20,983.5 30-59 days past due ​ ​ 111.4 ​ ​ 11.5 ​ ​ 122.9 ​ ​ 114.3 ​ ​ 18.3 ​ ​ 132.6 60-89 days past due ​ ​ 47.6 ​ ​ 3.5 ​ ​ 51.1 ​ ​ 59.4 ​ ​ 3.5 ​ ​ 62.9 90+ days past due ​ ​ 2.0 ​ ​ ​ ​ ​ 2.0 ​ ​ 3.6 ​ ​ ​ ​ ​ 3.6 Non-performing ​ ​ 172.7 ​ ​ 5.4 ​ ​ 178.1 ​ ​ 204.9 ​ ​ 7.4 ​ ​ 212.3 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 3,759.5 ​ ​ 92.3 ​ ​ 3,851.8 ​ ​ 3,572.8 ​ ​ 90.2 ​ ​ 3,663.0 30-59 days past due ​ ​ 82.0 ​ ​ 2.4 ​ ​ 84.4 ​ ​ 60.4 ​ ​ 2.6 ​ ​ 63.0 60-89 days past due ​ ​ 38.8 ​ ​ 1.1 ​ ​ 39.9 ​ ​ 14.6 ​ ​ 1.0 ​ ​ 15.6 90+ days past due ​ ​ 1.9 ​ ​ ​ ​ ​ 1.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-performing ​ ​ 79.5 ​ ​ .9 ​ ​ 80.4 ​ ​ 83.3 ​ ​ .7 ​ ​ 84.0 Total Customer Receivables ​ $ 22,636.6 ​ $ 3,827.4 ​ $ 26,464.0 ​ $ 21,302.2 ​ $ 3,918.3 ​ $ 25,220.5 ​ The credit quality analysis of wholesale receivables at August 1, 2021 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year of Origination ​ ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ Prior ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 260.9 ​ $ 106.2 ​ $ 30.6 ​ $ 12.5 ​ $ 3.1 ​ $ .5 ​ $ 5,946.0 ​ $ 6,359.8 30-59 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 10.1 ​ ​ 10.1 60-89 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.8 ​ ​ 3.8 90+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2.8 ​ ​ 2.8 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4.3 ​ ​ 4.3 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 7.5 ​ ​ 5.1 ​ ​ 3.9 ​ ​ .4 ​ ​ ​ ​ ​ ​ ​ ​ 1,332.0 ​ ​ 1,348.9 30-59 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1.3 ​ ​ 1.3 60-89 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ .2 ​ ​ .2 90+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total wholesale receivables ​ $ 268.4 ​ $ 111.3 ​ $ 34.5 ​ $ 12.9 ​ $ 3.1 ​ $ .5 ​ $ 7,300.5 ​ $ 7,731.2 ​ The credit quality analysis of wholesale receivables at November 1, 2020 and August 2, 2020 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ November 1, 2020 ​ August 2, 2020 Wholesale receivables: ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ Current ​ $ 5,693.7 ​ $ 6,905.0 30-59 days past due ​ ​ 3.9 ​ ​ 10.9 60-89 days past due ​ ​ 4.4 ​ ​ 1.1 90+ days past due ​ ​ 1.1 ​ ​ 1.4 Non-performing ​ ​ 4.0 ​ ​ 3.8 Construction and forestry ​ ​ ​ ​ ​ ​ Current ​ ​ 1,385.9 ​ ​ 1,499.6 30-59 days past due ​ ​ .3 ​ ​ 3.4 60-89 days past due ​ ​ ​ ​ ​ .3 90+ days past due ​ ​ ​ ​ ​ 1.1 Non-performing ​ ​ ​ ​ ​ 2.2 Total wholesale receivables ​ $ 7,093.3 ​ $ 8,428.8 ​ Allowance for Credit Losses The allowance for credit losses is an estimate of the credit losses expected over the life of the Company’s Receivable portfolio. The Company measures expected credit losses on a collective basis when similar risk characteristics exist. Risk characteristics considered by the Company include product category, market, geography, credit risk, and remaining duration. Receivables that do not share risk characteristics with other receivables in the portfolio are evaluated on an individual basis. Non-performing Receivables are included in the estimate of expected credit losses. The Company utilizes loss forecast models, which are selected based on the size and credit risk of the underlying pool of receivables, to estimate expected credit losses. Transition matrix models are used for large and complex Customer Receivable pools, while weighted average remaining maturity (WARM) models are used for smaller and less complex Customer Receivable pools. Transition matrix models, which are used for the majority of the Customer Receivables, estimate credit losses using historical delinquency and default information to assign probabilities that a receivable will pay as contractually scheduled or become delinquent and advance through the various delinquency stages. The model simulates the runoff of the portfolio, month-by-month, over the life of the receivables until the balances are fully repaid or default, using roll rates applied to the outstanding portfolio. The roll rates are applied based on the delinquency status of the customer accounts and are further segmented based on the credit risk and remaining duration of the underlying receivables. Estimated recovery rates are applied to the balance at default to calculate the expected credit losses. The modeled expected credit losses are adjusted based on reasonable and supportable forecasts, which may include economic indicators such as commodity prices, industry equipment sales, unemployment rates, and housing starts. The WARM models apply historical average annual loss rates, adjusted for current and forecasted economic conditions, to the projected portfolio runoff. Expected credit losses on wholesale receivables are based on historical loss rates, adjusted for current economic conditions and reasonable and supportable forecasts. Management reviews each model’s output quarterly, and qualitative adjustments are incorporated as necessary. Recoveries from freestanding credit enhancements, such as dealer deposits, are not included in the estimate of expected credit losses. Recoveries from dealer deposits are recognized in other income on the statement of consolidated income when the dealer’s withholding account is charged. During the three and nine months ended August 1, 2021, $3.2 million and $9.8 million, respectively, were recorded in other income related to recoveries from freestanding credit enhancements. Prior to the adoption of ASU No. 2016-13, the allowance for credit losses was estimated on probable credit losses incurred after consideration of expected recoveries from freestanding credit enhancements. An analysis of the allowance for credit losses and investment in Receivables during 2021 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ August 1, 2021 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 101.3 ​ $ 18.9 ​ $ 9.6 ​ $ 129.8 ​ Provision (credit) for credit losses* ​ 13.6 ​ ​ (.1) ​ ​ 2.2 ​ ​ 15.7 ​ Write-offs ​ (8.5) ​ ​ (8.4) ​ ​ (.2) ​ ​ (17.1) ​ Recoveries ​ 3.2 ​ ​ 7.6 ​ ​ ​ ​ ​ 10.8 ​ Translation adjustments ​ (.2) ​ ​ .1 ​ ​ (.1) ​ ​ (.2) ​ End of period balance ​ $ 109.4 ​ $ 18.1 ​ $ 11.5 ​ $ 139.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended ​ ​ August 1, 2021 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 76.9 ​ $ 42.3 ​ $ 9.9 ​ $ 129.1 ​ ASU No. 2016-13 adoption (see Note 2) ​ ​ 32.5 ​ ​ (12.2) ​ ​ (.6) ​ ​ 19.7 ​ Provision (credit) for credit losses* ​ 11.2 ​ ​ (15.9) ​ ​ 2.1 ​ ​ (2.6) ​ Write-offs ​ (19.7) ​ ​ (22.7) ​ ​ (.3) ​ ​ (42.7) ​ Recoveries ​ 8.1 ​ ​ 26.6 ​ ​ ​ ​ ​ 34.7 ​ Translation adjustments ​ .4 ​ ​ ​ ​ ​ .4 ​ ​ .8 ​ End of period balance ​ $ 109.4 ​ $ 18.1 ​ $ 11.5 ​ $ 139.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance ​ $ 25,264.3 ​ $ 3,687.7 ​ $ 7,731.2 ​ $ 36,683.2 ​ ​ * The allowance for credit losses on Receivables increased $9.2 million in the third quarter of 2021, primarily due to growth in the retail notes and financing leases portfolio. For the first nine months of 2021, the allowance for credit losses increased $9.9 million, primarily due to the adoption of ASU No. 2016-13 and growth in the retail notes and financing leases portfolio. These increases were partially offset by a reduction in the allowance on revolving charge accounts and a lower allowance on construction and forestry retail notes and financing leases. The allowance on revolving charge accounts was favorably impacted by strong payment performance due to continued improvements in the agriculture market, while expected credit losses on construction and forestry retail notes and financing leases decreased due to improving market conditions and better than expected performance of accounts granted payment relief due to the economic effects of COVID. An analysis of the allowance for credit losses and investment in Receivables during 2020 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ August 2, 2020 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 88.4 ​ $ 42.3 ​ $ 9.1 ​ $ 139.8 ​ Provision (credit) for credit losses ​ 3.3 ​ ​ 13.2 ​ ​ (.5) ​ 16.0 ​ Write-offs ​ (5.5) ​ ​ (21.3) ​ ​ (.1) ​ (26.9) ​ Recoveries ​ 2.4 ​ ​ 8.1 ​ ​ .4 ​ 10.9 ​ Translation adjustments ​ .4 ​ ​ ​ ​ ​ .4 ​ .8 ​ End of period balance ​ $ 89.0 ​ $ 42.3 ​ $ 9.3 ​ $ 140.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended ​ ​ August 2, 2020 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 53.7 ​ $ 39.3 ​ $ 7.6 ​ $ 100.6 ​ Provision (credit) for credit losses ​ 70.5 ​ ​ 31.3 ​ ​ (1.0) ​ 100.8 ​ Write-offs ​ (39.6) ​ ​ (50.1) ​ ​ (.9) ​ (90.6) ​ Recoveries ​ 4.5 ​ ​ 21.8 ​ ​ 1.3 ​ 27.6 ​ Translation adjustments ​ (.1) ​ ​ ​ ​ ​ 2.3 ​ 2.2 ​ End of period balance ​ $ 89.0 ​ $ 42.3 ​ $ 9.3 ​ $ 140.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance ​ $ 21,302.2 ​ $ 3,918.3 ​ $ 8,428.8 ​ $ 33,649.3 ​ ​ The allowance for credit losses increased $40.0 million in the first nine months of 2020 primarily due to the negative economic effects of COVID and other macroeconomic issues, which significantly affected certain retail borrowers, particularly of construction equipment. Troubled Debt Restructurings A troubled debt restructuring is generally the modification of debt in which a creditor grants a concession it would not otherwise consider to a debtor that is experiencing financial difficulties. These modifications may include a reduction of the stated interest rate, an extension of the maturity date, a reduction of the face amount or maturity amount of the debt, or a reduction of accrued interest. During the first nine months of 2021, the Company identified 287 Receivable contracts, primarily retail notes, as troubled debt restructurings with aggregate balances of $10.3 million pre-modification and $9.4 million post-modification. During the first nine months of 2020, there were 328 Receivable contracts, primarily retail notes, with aggregate balances of $12.6 million pre-modification and $11.6 million post-modification. The short-term relief related to COVID mentioned on page 11 did not meet the definition of a troubled debt restructuring. During these same periods, there were no significant troubled debt restructurings that subsequently defaulted and were written off. At August 1, 2021, the Company had no commitments to provide additional financing to customers whose accounts were modified in troubled debt restructurings. ​

Securitization of Receivables

Securitization of Receivables	9 Months Ended
	Aug. 01, 2021
Securitization of Receivables
Securitization of Receivables	(5)  Securitization of Receivables The Company, as a part of its overall funding strategy, periodically transfers certain Receivables (retail notes) into variable interest entities (VIEs) that are special purpose entities (SPEs), or non-VIE banking operations, as part of its asset-backed securities programs (securitizations). The structure of these transactions is such that the transfer of the retail notes does not meet the accounting criteria for sales of receivables, and is, therefore, accounted for as a secured borrowing. SPEs utilized in securitizations of retail notes differ from other entities included in the Company’s consolidated statements because the assets they hold are legally isolated. Use of the assets held by the SPEs or the non-VIEs is restricted by terms of the documents governing the securitization transactions. In these securitizations, the retail notes are transferred to certain SPEs or to non-VIE banking operations, which in turn issue debt to investors. The debt securities issued to the third-party investors result in secured borrowings, which are recorded as “Securitization borrowings” on the consolidated balance sheet. The securitized retail notes are recorded as “Retail notes securitized” on the consolidated balance sheet. The total restricted assets on the consolidated balance sheet related to these securitizations include the retail notes securitized less an allowance for credit losses, and other assets primarily representing restricted cash. Restricted cash results from contractual requirements in securitized borrowing arrangements and serves as a credit enhancement. The restricted cash is used to satisfy payment deficiencies, if any, in the required payments on secured borrowings. The balance of restricted cash is contractually stipulated and is either a fixed amount as determined by the initial balance of the retail notes securitized or a fixed percentage of the outstanding balance of the retail notes securitized. The restriction is removed either after all secured borrowing payments are made or proportionally as these receivables are collected and borrowing obligations reduced. For those securitizations in which retail notes are transferred into SPEs, the SPEs supporting the secured borrowings are consolidated unless the Company does not have both the power to direct the activities that most significantly impact the SPEs’ economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the SPEs. No additional support to these SPEs beyond what was previously contractually required has been provided during the reporting periods. In certain securitizations, the Company consolidates the SPEs since it has both the power to direct the activities that most significantly impact the SPEs’ economic performance through its role as servicer of all the Receivables held by the SPEs and the obligation through variable interests in the SPEs to absorb losses or receive benefits that could potentially be significant to the SPEs. The restricted assets (retail notes securitized, allowance for credit losses, and other assets) of the consolidated SPEs totaled $3,605.3 million, $2,897.5 million, and $3,342.5 million at August 1, 2021, November 1, 2020, and August 2, 2020, respectively. The liabilities (securitization borrowings and accrued interest) of these SPEs totaled $3,487.2 million, $2,856.2 million, and $3,258.8 million at August 1, 2021, November 1, 2020, and August 2, 2020, respectively. The credit holders of these SPEs do not have legal recourse to the Company’s general credit. In certain securitizations, the Company transfers retail notes to non-VIE banking operations, which are not consolidated since the Company does not have a controlling interest in the entities. The Company’s carrying values and interests related to the securitizations with the unconsolidated non-VIEs were restricted assets (retail notes securitized, allowance for credit losses, and other assets) of $554.5 million, $549.7 million, and $642.4 million at August 1, 2021, November 1, 2020, and August 2, 2020, respectively. The liabilities (securitization borrowings and accrued interest) were $520.5 million, $528.1 million, and $606.0 million at August 1, 2021, November 1, 2020, and August 2, 2020, respectively. In certain securitizations, the Company transfers retail notes into bank-sponsored, multi-seller, commercial paper conduits, which are SPEs that are not consolidated. The Company does not service a significant portion of the conduits’ receivables, and therefore, does not have the power to direct the activities that most significantly impact the conduits’ economic performance. These conduits provide a funding source to the Company (as well as other transferors into the conduit) as they fund the retail notes through the issuance of commercial paper. The Company’s carrying values and variable interest related to these conduits were restricted assets (retail notes securitized, allowance for credit losses, and other assets) of $1,341.2 million, $1,327.3 million, and $1,551.3 million at August 1, 2021, November 1, 2020, and August 2, 2020, respectively. The liabilities (securitization borrowings and accrued interest) related to these conduits were $1,259.0 million, $1,275.1 million, and $1,463.4 million at August 1, 2021, November 1, 2020, and August 2, 2020, respectively. The Company’s carrying amount of the liabilities to the unconsolidated conduits, compared to the maximum exposure to loss related to these conduits, which would only be incurred in the event of a complete loss on the restricted assets was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ ​ ​ ​ ​ ​ ​ Carrying value of liabilities ​ $ 1,259.0 ​ ​ ​ ​ ​ ​ ​ Maximum exposure to loss ​ 1,341.2 ​ ​ ​ ​ ​ ​ ​ ​ The total assets of unconsolidated VIEs related to securitizations were approximately $37 billion at August 1, 2021. The components of consolidated restricted assets related to secured borrowings in securitization transactions were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1 ​ November 1 ​ August 2 ​ ​ 2021 ​ 2020 ​ 2020 Retail notes securitized ​ $ 5,408.2 ​ $ 4,689.2 ​ $ 5,446.2 ​ Allowance for credit losses ​ (19.9) ​ (12.6) ​ (14.0) ​ Other assets ​ 112.7 ​ 97.9 ​ 104.0 ​ Total restricted securitized assets ​ $ 5,501.0 ​ $ 4,774.5 ​ $ 5,536.2 ​ The components of consolidated secured borrowings and other liabilities related to securitizations were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1 ​ November 1 ​ August 2 ​ ​ 2021 ​ 2020 ​ 2020 Securitization borrowings ​ $ 5,264.6 ​ $ 4,656.2 ​ $ 5,324.1 ​ Accrued interest on borrowings ​ 2.1 ​ 3.2 ​ 4.1 ​ Total liabilities related to restricted securitized assets ​ $ 5,266.7 ​ $ 4,659.4 ​ $ 5,328.2 ​ ​ The secured borrowings related to these restricted securitized retail notes are obligations that are payable as the retail notes are liquidated. Repayment of the secured borrowings depends primarily on cash flows generated by the restricted assets. Due to the Company’s short-term credit rating, cash collections from these restricted assets are not required to be placed into a segregated collection account until immediately prior to the time payment is required to the secured creditors. At August 1, 2021, the maximum remaining term of all restricted securitized retail notes was approximately seven years.

Leases

Leases	9 Months Ended
	Aug. 01, 2021
Leases
Leases	(6)  Leases The Company leases John Deere equipment and a limited amount of non-Deere equipment to retail customers through sales-type, direct financing, and operating leases. Sales-type and direct financing leases are reported in financing leases on the consolidated balance sheet. Operating leases are reported in equipment on operating leases – net on the consolidated balance sheet. Lease revenues earned by the Company were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ August 1 ​ August 2 ​ August 1 ​ August 2 ​ ​ 2021 ​ 2020 ​ 2021 ​ 2020 Sales-type and direct financing lease revenues ​ $ 12.7 ​ $ 12.0 ​ $ 35.8 ​ $ 34.3 Operating lease revenues ​ ​ 237.9 ​ ​ 253.5 ​ ​ 724.3 ​ ​ 768.8 Variable lease revenues ​ 5.1 ​ 4.8 ​ 15.4 ​ 14.7 Total lease revenues ​ $ 255.7 ​ $ 270.3 ​ $ 775.5 ​ $ 817.8 ​ Variable lease revenues reported above primarily relate to separately invoiced property taxes on leased equipment in certain markets and late fees. ​ The cost of equipment on operating leases by product category was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1 ​ November 1 ​ August 2 ​ ​ 2021 ​ 2020 ​ 2020 Agriculture and turf ​ $ 5,043.4 ​ $ 5,210.4 ​ $ 5,082.8 Construction and forestry ​ ​ 1,391.3 ​ 1,595.3 ​ 1,648.3 Total ​ ​ 6,434.7 ​ ​ 6,805.7 ​ ​ 6,731.1 Accumulated depreciation ​ (1,470.9) ​ ​ (1,507.9) ​ ​ (1,473.9) Equipment on operating leases - net ​ $ 4,963.8 ​ $ 5,297.8 ​ $ 5,257.2 ​ Operating lease assets are recorded at cost and depreciated to their estimated residual value on a straight-line method over the terms of the leases. The Company reviews residual value estimates during the lease term and tests the carrying value of its operating lease assets for impairment when events or circumstances necessitate. The depreciation is adjusted on a straight-line basis over the remaining lease term if residual value estimates are revised. There were no impairment losses on operating leases recorded during the nine months ended August 1, 2021. During the nine months ended August 2, 2020, the Company recorded impairment losses on operating leases of $21.0 million due to higher expected return rates and lower estimated values of used construction equipment. The operating lease impairment losses were recorded in administrative and operating expenses on the statement of consolidated income. The total operating lease residual values at August 1, 2021, November 1, 2020, and August 2, 2020 were $3,598.9 million, $3,826.3 million, and $3,791.7 million, respectively. Certain operating leases are subject to residual value guarantees. The total residual value guarantees were $247.3 million, $141.0 million, and $110.1 million at August 1, 2021, November 1, 2020, and August 2, 2020, respectively. The increase in residual value guarantees is primarily due to guarantees provided by John Deere dealers, which generally provide a first-loss residual value guarantee on operating lease originations effective after January 2020. The Company discusses with lessees and dealers options to purchase the equipment or extend the lease prior to operating lease maturity. Equipment returned to the Company upon termination of leases is remarketed by the Company. The matured operating lease inventory balances at August 1, 2021, November 1, 2020, and August 2, 2020 were $46.9 million, $64.5 million, and $100.7 million, respectively. Matured operating lease inventory is reported in other assets on the consolidated balance sheet. During the nine months ended August 2, 2020, the Company recorded impairment losses on matured operating lease inventory of $9.8 million due to lower estimated values of used construction equipment. There were no impairment losses recorded on matured operating lease inventory during the nine months ended August 1, 2021. The impairment losses on matured operating lease inventory were included in administrative and operating expenses on the statement of consolidated income. Due to the economic effects of COVID, the Company provided short-term payment relief to lessees during 2020, and to a much lesser extent in 2021. The relief was provided in regional programs and on a case-by-case basis with customers that were generally current in their payment obligations. The operating leases granted relief since the beginning of the pandemic that remained outstanding at August 1, 2021 represented approximately 2 percent of the Company’s operating lease portfolio. The majority of operating leases granted short-term relief are beyond the deferral period and have resumed making payments.

Notes Receivable from John Deer

Notes Receivable from John Deere	9 Months Ended
	Aug. 01, 2021
Notes Receivable from John Deere
Notes Receivable from John Deere	(7)  Notes Receivable from John Deere The Company makes loans to affiliated companies. The Company receives interest from John Deere at competitive market interest rates. The lending agreements mature over the next seven years. Interest earned from John Deere was $3.8 million for the third quarter and $10.3 in the first nine months of 2021, compared with $4.4 million and $12.4 million for the same periods last year, respectively. The Company had notes receivable from John Deere with the following affiliated companies as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1 ​ November 1 ​ August 2 ​ ​ ​ 2021 ​ 2020 ​ 2020 ​ Limited Liability Company John Deere Financial ​ $ 198.6 ​ $ 132.5 ​ $ 125.6 ​ Banco John Deere S.A. ​ ​ 167.4 ​ 217.5 ​ 241.2 ​ Total Notes Receivable from John Deere ​ $ 366.0 ​ $ 350.0 ​ $ 366.8 ​ ​

Long-Term Borrowings

Long-Term Borrowings	9 Months Ended
	Aug. 01, 2021
Long-Term Borrowings
Long-Term Borrowings	(8)  Long-Term Borrowings Long-term borrowings of the Company at August 1, 2021, November 1, 2020, and August 2, 2020 consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1 ​ November 1 ​ August 2 ​ 2021 ​ 2020 ​ 2020 Senior Debt: ​ ​ ​ ​ ​ ​ ​ ​ Medium-term notes $ 20,174.1 ​ $ 19,320.6 ​ $ 20,499.8 Other notes ​ ​ 19.8 ​ ​ 38.2 ​ ​ 43.3 Total senior debt ​ ​ 20,193.9 ​ ​ 19,358.8 ​ ​ 20,543.1 Unamortized debt discount and debt issuance costs ​ ​ (57.2) ​ ​ (47.7) ​ ​ (51.0) Total ​ $ 20,136.7 ​ $ 19,311.1 ​ $ 20,492.1 ​ The medium-term notes in the table above include fair value adjustments related to interest rate swaps. The principal balances of the medium-term notes were $19,722.5, $18,668.9, and $19,722.7 million at August 1, 2021, November 1, 2020, and August 2, 2020, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Aug. 01, 2021
Commitments and Contingencies
Commitments and Contingencies	(9)  Commitments and Contingencies At August 1, 2021, John Deere Financial Inc., the John Deere finance subsidiary in Canada, had $2,049.2 million of medium-term notes outstanding, and a fair value liability of $43.6 million for derivatives outstanding, prior to considering applicable netting provisions, with notional amounts of $3,021.5 million that were guaranteed by Capital Corporation. The weighted average interest rate on the medium-term notes at August 1, 2021 was 2.2 percent with a maximum remaining maturity of approximately six years. Capital Corporation has a variable interest in John Deere Canada Funding Inc. (JDCFI), a wholly-owned subsidiary of John Deere Financial Inc., which was created as a VIE to issue debt in public markets to fund the operations of affiliated companies in Canada. Capital Corporation has a variable interest in JDCFI because it provides guarantees for all debt issued by JDCFI, however it does not consolidate JDCFI because it does not have the power to direct the activities that most significantly impact JDCFI’s economic performance. Capital Corporation has no carrying value of assets or liabilities related to JDCFI. Its maximum exposure to loss is the amount of the debt issued by JDCFI and guaranteed by Capital Corporation, which was $964.3 million at August 1, 2021. The weighted average interest rate on the debt at August 1, 2021 was 2.6 percent with a maximum remaining maturity of approximately two years. No additional support beyond what was previously contractually required has been provided to JDCFI during the reporting periods. The Company has commitments to extend credit to customers and John Deere dealers through lines of credit and other pre-approved credit arrangements. The Company applies the same credit policies and approval process for these commitments to extend credit as it does for its Receivables. Collateral is not required for these commitments, but if credit is extended, collateral may be required upon funding. The amount of unused commitments to extend credit to John Deere dealers was $10.0 billion at August 1, 2021. The amount of unused commitments to extend credit to customers was $28.8 billion at August 1, 2021. A significant portion of these commitments is not expected to be fully drawn upon; therefore, the total commitment amounts likely do not represent a future cash requirement. The Company generally has the right to unconditionally cancel, alter, or amend the terms of these commitments at any time. Over 95 percent of the unused commitments to extend credit to customers relate to revolving charge accounts. At August 1, 2021, Capital Corporation had $131.2 million in unused loan commitments, which are unconditionally cancellable, denominated in rubles to Limited Liability Company John Deere Financial, the John Deere finance subsidiary in Russia. At August 1, 2021, the Company had restricted other assets associated with borrowings related to securitizations (see Note 5). Excluding the securitization programs, the remaining balance of restricted other assets was not material as of August 1, 2021. The Company is subject to various unresolved legal actions which arise in the normal course of its business, the most prevalent of which relate to retail credit matters. The Company believes the reasonably possible range of losses for these unresolved legal actions would not have a material effect on its consolidated financial statements.

Income Taxes

Income Taxes	9 Months Ended
	Aug. 01, 2021
Income Taxes
Income Taxes	(10)  Income Taxes The Company’s unrecognized tax benefits at August 1, 2021 were $29.6 million, compared to $33.3 million at November 1, 2020, and $31.0 million at August 2, 2020. The liability at August 1, 2021, November 1, 2020, and August 2, 2020 consisted of approximately $19.9 million, $17.2 million, and $16.1 million, respectively, which would affect the effective tax rate if the tax benefits were recognized. The remaining liability was related to tax positions for which there are offsetting tax receivables, or the uncertainty was only related to timing. The Company expects that any reasonably possible change in the amounts of unrecognized tax benefits in the next 12 months would not be material.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Aug. 01, 2021
Fair Value Measurements
Fair Value Measurements	(11)   Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To determine fair value, the Company uses various methods including market and income approaches. The Company utilizes valuation models and techniques that maximize the use of observable inputs. The models are industry-standard models that consider various assumptions including time values and yield curves as well as other economic measures. These valuation techniques are consistently applied. Level 1 measurements consist of quoted prices in active markets for identical assets or liabilities. Level 2 measurements include significant other observable inputs such as quoted prices for similar assets or liabilities in active markets; identical assets or liabilities in inactive markets; observable inputs such as interest rates and yield curves; and other market-corroborated inputs. Level 3 measurements include significant unobservable inputs. The fair values of financial instruments that do not approximate the carrying values were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1, 2021 ​ November 1, 2020 ​ August 2, 2020 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ Carrying ​ Fair ​ ​ Value ​ Value ​ Value ​ Value ​ Value ​ Value Receivables financed – net ​ $ 31,155.9 ​ $ 31,264.6 ​ $ 28,751.6 ​ $ 28,931.7 ​ $ 28,076.5 ​ $ 28,275.8 ​ Retail notes securitized – net ​ 5,388.3 ​ 5,454.3 ​ 4,676.6 ​ 4,772.9 ​ 5,432.2 ​ 5,543.9 ​ Securitization borrowings ​ 5,264.6 ​ 5,289.3 ​ 4,656.2 ​ 4,697.6 ​ 5,324.1 ​ 5,380.7 ​ Current maturities of long-term borrowings ​ 5,746.0 ​ 5,800.4 ​ 5,741.6 ​ 5,801.1 ​ 4,910.2 ​ 4,958.2 ​ Long-term borrowings ​ ​ 20,136.7 ​ ​ 20,557.9 ​ ​ 19,311.1 ​ 19,784.4 ​ ​ 20,492.1 ​ ​ 21,038.2 ​ ​ Fair value measurements above were Level 3 for all Receivables and Level 2 for all borrowings. Fair values of Receivables that were issued long-term were based on the discounted values of their related cash flows at interest rates currently being offered by the Company for similar Receivables. The fair values of the remaining Receivables approximated the carrying amounts. Fair values of long-term borrowings and securitization borrowings were based on current market quotes for identical or similar borrowings and credit risk, or on the discounted values of their related cash flows at current market interest rates. Certain long-term borrowings have been swapped to current variable interest rates. The carrying values of these long-term borrowings include adjustments related to fair value hedges. Assets and liabilities measured at fair value as Level 2 measurements on a recurring basis were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1 November 1 August 2 ​ ​ 2021 ​ 2020 ​ 2020 Marketable securities ​ ​ ​ ​ ​ ​ ​ International debt securities ​ $ 2.1 ​ $ 2.2 ​ $ 2.4 ​ Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ ​ 331.7 ​ ​ 575.5 ​ ​ 795.4 ​ Cross-currency interest rate contracts ​ 2.0 ​ 7.7 ​ 9.1 ​ Other assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts ​ .5 ​ 3.8 ​ 3.7 ​ Total assets ​ $ 336.3 ​ $ 589.2 ​ $ 810.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other payables to John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 43.4 ​ $ 29.4 ​ $ 42.5 ​ Cross-currency interest rate contracts ​ 2.3 ​ ​ .7 ​ .1 ​ Accounts payable and accrued expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts ​ 1.7 ​ .9 ​ 6.2 ​ Total liabilities ​ $ 47.4 ​ $ 31.0 ​ $ 48.8 ​ Excluded from the table above were the Company’s cash equivalents, which were carried at cost that approximates fair value. The cash equivalents consist primarily of time deposits and money market funds. The international debt securities mature over the next nine years. At August 1, 2021, the amortized cost basis and fair value of these available-for-sale debt securities were $4.7 million and $2.1 million, respectively. Fair value, nonrecurring Level 3 measurements from impairments, excluding Receivables with specific allowances which were not material, were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ Losses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ August 1 ​ November 1 ​ August 2 ​ August 1 ​ August 2 ​ August 1 ​ August 2 ​ ​ 2021 ​ 2020 ​ 2020 ​ 2021 ​ 2020 ​ 2021 ​ 2020 Equipment on operating leases – net ​ ​ $ 340.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 21.0 Other assets ​ ​ ​ ​ ​ 56.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 9.8 Total ​ ​ ​ ​ $ 396.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 30.8 The fair value shown for November 1, 2020 in the table above represents the fair value assessment at May 3, 2020, as the result of impairments taken on operating leases and matured operating lease inventory in the second quarter of 2020 (see Note 6). The following is a description of the valuation methodologies the Company uses to measure certain financial instruments on the consolidated balance sheet at fair value: Marketable securities Derivatives – Receivables – Equipment on operating leases - net Other assets

Derivative Instruments

Derivative Instruments	9 Months Ended
	Aug. 01, 2021
Derivative Instruments
Derivative Instruments	(12)  Derivative Instruments It is the Company’s policy that derivative transactions are executed only to manage exposures arising in the normal course of business and not for the purpose of creating speculative positions or trading. The Company manages the relationship of the types and amounts of its funding sources to its Receivable and Lease portfolios in an effort to diminish risk due to interest rate and foreign currency fluctuations, while responding to favorable financing opportunities. The Company also has foreign currency exposures at some of its foreign and domestic operations related to financing in currencies other than the functional currencies. All derivatives are recorded at fair value on the consolidated balance sheet. Cash collateral received or paid is not offset against the derivative fair values on the consolidated balance sheet. Each derivative is designated as a cash flow hedge, a fair value hedge, or remains undesignated. All designated hedges are formally documented as to the relationship with the hedged item as well as the risk-management strategy. Both at inception and on an ongoing basis the hedging instrument is assessed as to its effectiveness. If and when a derivative is determined not to be highly effective as a hedge, the underlying hedged transaction is no longer likely to occur, the hedge designation is removed, or the derivative is terminated, hedge accounting is discontinued. Cash Flow Hedges Certain interest rate contracts (swaps) were designated as hedges of future cash flows from borrowings. The total notional amounts of the receive-variable/pay-fixed interest rate contracts at August 1, 2021, November 1, 2020, and August 2, 2020 were $1,750.0 million, $1,550.0 million, and $1,900.0 million, respectively. Fair value gains or losses on these cash flow hedges were recorded in other comprehensive income (OCI) and subsequently reclassified into interest expense in the same periods during which the hedged transactions impact earnings. These amounts offset the effects of interest rate changes on the related borrowings. The cash flows from these contracts were recorded in operating activities in the statement of consolidated cash flows. The amount of loss recorded in OCI at August 1, 2021 that is expected to be reclassified to interest expense in the next twelve months if interest rates remain unchanged is approximately $1.0 million after-tax. No gains or losses were reclassified from OCI to earnings based on the probability that the original forecasted transaction would not occur. Fair Value Hedges Certain interest rate contracts (swaps) were designated as fair value hedges of borrowings. The total notional amounts of the receive-fixed/pay-variable interest rate contracts at August 1, 2021, November 1, 2020, and August 2, 2020 were $7,934.9 million, $6,525.7 million, and $8,179.8 million, respectively. The fair value gains or losses on these contracts were generally offset by fair value gains or losses on the hedged items (fixed-rate borrowings) with both items recorded in interest expense. The amounts recorded in the consolidated balance sheet related to borrowings designated in fair value hedging relationships were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative Increase (Decrease) of Fair Value ​ ​ ​ ​ ​ ​ Hedging Adjustments Included in the ​ ​ ​ ​ ​ ​ Carrying Amount ​ ​ ​ Carrying ​ Active ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of ​ Hedging ​ Discontinued ​ ​ ​ August 1, 2021 ​ Hedged Item ​ Relationships ​ Relationships ​ Total ​ Current maturities of long-term borrowings ​ $ 187.8 ​ $ 4.0 ​ $ (.9) ​ $ 3.1 ​ Long-term borrowings ​ ​ 8,165.4 ​ ​ 261.3 ​ ​ 190.3 ​ ​ 451.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ November 1, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term borrowings ​ $ 2.5 ​ ​ ​ ​ $ 2.5 ​ $ 2.5 ​ Long-term borrowings ​ ​ 7,149.8 ​ $ 530.0 ​ ​ 121.6 ​ ​ 651.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 2, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term borrowings ​ $ 104.6 ​ $ 2.6 ​ $ 2.0 ​ $ 4.6 ​ Long-term borrowings ​ ​ 8,826.4 ​ ​ 737.6 ​ ​ 39.5 ​ ​ 777.1 ​ ​ Derivatives Not Designated as Hedging Instruments The Company has certain interest rate contracts (swaps and caps), foreign exchange contracts (futures, forwards, and swaps), and cross-currency interest rate contracts (swaps), which were not formally designated as hedges. These derivatives were held as economic hedges for underlying interest rate or foreign currency exposures primarily for certain borrowings. The total notional amounts of the interest rate swaps at August 1, 2021, November 1, 2020, and August 2, 2020 were $2,921.4 million, $2,336.6 million, and $2,423.2 million, the foreign exchange contracts were $98.0 million, $172.6 million, and $211.1 million, and the cross-currency interest rate contracts were $197.4 million, $111.5 million, and $123.5 million, respectively. To facilitate borrowings through securitization of retail notes, interest rate caps were sold with notional amounts of $1,807.6 million, $1,961.4 million, and $2,171.0 million at August 1, 2021, November 1, 2020, and August 2, 2020, respectively. Interest rate caps were also purchased with notional amounts of $1,807.6 million, $1,961.4 million, and $2,171.0 million at the same dates. The fair value gains or losses from the interest rate contracts were recognized currently in interest expense and the gains or losses from foreign exchange contracts in administrative and operating expenses, generally offsetting over time the expenses on the exposures being hedged. The cash flows from these non-designated contracts were recorded in operating activities in the statement of consolidated cash flows. Fair values of derivative instruments in the consolidated balance sheet were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1 November 1 August 2 ​ ​ 2021 ​ 2020 ​ 2020 Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 321.0 ​ $ 565.2 ​ $ 785.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ 10.7 ​ 10.3 ​ 10.1 ​ Cross-currency interest rate contracts ​ 2.0 ​ 7.7 ​ 9.1 ​ Total not designated ​ 12.7 ​ 18.0 ​ 19.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts ​ .5 ​ 3.8 ​ 3.7 ​ Total not designated ​ .5 ​ 3.8 ​ 3.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative assets ​ $ 334.2 ​ $ 587.0 ​ $ 808.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Payables to John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 32.3 ​ $ 12.7 ​ $ 24.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ 11.1 ​ 16.7 ​ 18.4 ​ Cross-currency interest rate contracts ​ ​ 2.3 ​ ​ .7 ​ .1 ​ Total not designated ​ 13.4 ​ 17.4 ​ 18.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts Payable and Accrued Expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts ​ 1.7 ​ .9 ​ 6.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative liabilities ​ $ 47.4 ​ $ 31.0 ​ $ 48.8 ​ ​ The classification and gains (losses) including accrued interest expense related to derivative instruments on the statement of consolidated income consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ August 1 ​ August 2 ​ August 1 ​ August 2 ​ 2021 2020 2021 2020 Fair Value Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense $ 139.9 ​ $ 76.7 ​ $ (70.7) ​ $ 568.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recognized in OCI ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - OCI (pretax) (.9) ​ (1.1) ​ (.8) ​ (17.6) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reclassified from OCI ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense (1.6) ​ (6.4) ​ (8.2) ​ (11.5) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not Designated as Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense * $ (2.9) ​ $ (2.2) ​ $ (4.5) ​ $ (3.0) ​ Foreign exchange contracts - Administrative and operating expenses * (4.5) ​ (47.2) ​ (20.0) ​ 47.3 ​ Total not designated ​ $ (7.4) ​ $ (49.4) ​ $ (24.5) ​ $ 44.3 ​ * Includes interest and foreign exchange gains (losses) from cross-currency interest rate contracts. Included in the table above are interest expense and administrative and operating expense amounts the Company incurred on derivatives transacted with John Deere. The amounts the Company recognized on these affiliate party transactions for the three months ended August 1, 2021 and August 2, 2020 were gains of $133.3 million and $62.8 million, respectively. The amounts the Company recognized on these affiliate party transactions for the nine months ended August 1, 2021 and August 2, 2020 were a loss of $91.6 million and a gain of $568.1 million, respectively. Counterparty Risk and Collateral Derivative instruments are subject to significant concentrations of credit risk to the banking sector. The Company manages individual unrelated external counterparty exposure by setting limits that consider the credit rating of the unrelated external counterparty, the credit default swap spread of the counterparty, and other financial commitments and exposures between the Company and the unrelated external counterparty banks. All interest rate derivatives are transacted under International Swaps and Derivatives Association (ISDA) documentation. Each master agreement permits the net settlement of amounts owed in the event of default or termination. None of the Company’s derivative agreements contain credit-risk-related contingent features. The Company’s outstanding derivatives have been transacted with both unrelated external counterparties and with John Deere. For derivatives transacted with John Deere, the Company utilizes a centralized hedging structure in which John Deere enters into a derivative transaction with an unrelated external counterparty and simultaneously enters into a derivative transaction with the Company. Except for collateral provisions, the terms of the transaction between the Company and John Deere are identical to the terms of the transaction between John Deere and its unrelated external counterparty. The Company has ISDA agreements with John Deere that permit the net settlement of amounts owed between counterparties in the event of early termination. In addition, the Company has a loss sharing agreement with John Deere in which it has agreed to absorb any losses and expenses John Deere incurs if an unrelated external counterparty fails to meet its obligations on a derivative transaction that John Deere entered into to manage exposures of the Company. The loss sharing agreement did not increase the maximum amount of loss that the Company would incur, after considering collateral received and netting arrangements, as of August 1, 2021, November 1, 2020, and August 2, 2020. Derivatives are recorded without offsetting for netting arrangements or collateral. The impact on the derivative assets and liabilities for external derivatives and those with John Deere related to netting arrangements and any collateral received or paid were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ External ​ $ .5 ​ $ (.1) ​ ​ ​ ​ $ .4 ​ John Deere ​ 333.7 ​ ​ (43.1) ​ ​ ​ ​ 290.6 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ 1.7 ​ (.1) ​ ​ ​ ​ 1.6 ​ John Deere ​ 45.7 ​ (43.1) ​ ​ ​ 2.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ November 1, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ External ​ $ 3.8 ​ $ (.7) ​ ​ ​ ​ $ 3.1 ​ John Deere ​ 583.2 ​ (23.5) ​ ​ ​ 559.7 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ .9 ​ (.7) ​ ​ ​ .2 ​ John Deere ​ 30.1 ​ (23.5) ​ ​ ​ 6.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 2, 2020 ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ $ 3.7 ​ $ (.2) ​ ​ ​ ​ $ 3.5 ​ John Deere ​ 804.5 ​ ​ (35.4) ​ ​ ​ ​ 769.1 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ 6.2 ​ (.2) ​ ​ ​ 6.0 ​ John Deere ​ 42.6 ​ (35.4) ​ ​ ​ 7.2 ​ ​

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	9 Months Ended
	Aug. 01, 2021
Pension and Other Postretirement Benefits
Pension and Other Postretirement Benefits	(13)  Pension and Other Postretirement Benefits The Company is a participating employer in certain Deere & Company sponsored defined benefit pension plans for employees in the U.S. and certain defined benefit pension plans outside the U.S. These pension plans provide for benefits that are based primarily on years of service and employee compensation. Pension expense is actuarially determined based on the Company’s employees included in the plan. The Company’s pension expense was not material for the three and nine month periods ended August 1, 2021 and August 2, 2020. The accumulated benefit obligation and plan net assets for the employees of the Company are not determined separately from Deere & Company. The Company provides defined benefit health care and life insurance plans for certain retired employees in the U.S. as a participating employer in Deere & Company’s sponsored plans. Health care and life insurance benefits expense is actuarially determined based on the Company’s employees included in the plans and amounted to $1.5 million for the third quarter and $4.6 million for the first nine months of 2021, compared with $1.7 million and $8.3 million for the same periods last year. The decrease from the prior year is primarily due to a $3.3 million curtailment loss in the first quarter of 2020 related to voluntary employee-separation programs (see Note 14). Further disclosure for these plans is included in Deere & Company’s Form 10-Q for the quarter ended August 1, 2021.

Employee-Separation Programs

Employee-Separation Programs	9 Months Ended
	Aug. 01, 2021
Employee-Separation Programs
Employee-Separation Programs	(14)  Employee-Separation Programs During the first nine months of 2020, the Company incurred voluntary employee-separation program expenses of $8.7 million as part of its efforts to create a more efficient organization structure and reduce operating costs. The programs provided for cash payments based on years of service. The expenses were recorded primarily in the period in which the employees irrevocably accepted the separation offer. Included in the total pretax expense noted above for the first nine months of 2020 was a non-cash charge of $3.3 million resulting from a curtailment in certain other postretirement benefit plans during the first quarter of 2020 (see Note 13). The expenses were recorded in administrative and operating expenses ​

Organization and Consolidation

Organization and Consolidation (Policies)	9 Months Ended
	Aug. 01, 2021
Organization and Consolidation
Use of Estimates in Financial Statements	The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts and related disclosures. The COVID pandemic has resulted in uncertainties in the Company’s business, which may result in actual outcomes differing from those estimates.
Fiscal Year	The Company uses a 52/53 week fiscal year with quarters ending on the last Sunday in the reporting period. The third quarter ends for fiscal year 2021 and 2020 were August 1, 2021 and August 2, 2020, respectively. Both third quarters contained 13 weeks, while both year-to-date periods contained 39 weeks. Unless otherwise stated, references to particular years, quarters, or months refer to the Company's fiscal years generally ending in October and the associated periods in those fiscal years.
Receivables - Non-Performing, Policy	The Company monitors the credit quality of Receivables based on delinquency status. Past due balances of Receivables still accruing finance income represent the total balance held (principal plus accrued interest) with any payment amounts 30 days or more past the contractual payment due date. Non-performing Receivables represent receivables for which the Company has ceased accruing finance income. Generally, when retail notes, revolving charge accounts financing lease Receivable balances are written off to the allowance for credit losses when, in the judgment of management, they are considered uncollectible. Generally, when retail notes and financing lease
Allowance for Credit Losses, Policy	The allowance for credit losses is an estimate of the credit losses expected over the life of the Company’s Receivable portfolio. The Company measures expected credit losses on a collective basis when similar risk characteristics exist. Risk characteristics considered by the Company include product category, market, geography, credit risk, and remaining duration. Receivables that do not share risk characteristics with other receivables in the portfolio are evaluated on an individual basis. Non-performing Receivables are included in the estimate of expected credit losses. The Company utilizes loss forecast models, which are selected based on the size and credit risk of the underlying pool of receivables, to estimate expected credit losses. Transition matrix models are used for large and complex Customer Receivable pools, while weighted average remaining maturity (WARM) models are used for smaller and less complex Customer Receivable pools. Transition matrix models, which are used for the majority of the Customer Receivables, estimate credit losses using historical delinquency and default information to assign probabilities that a receivable will pay as contractually scheduled or become delinquent and advance through the various delinquency stages. The model simulates the runoff of the portfolio, month-by-month, over the life of the receivables until the balances are fully repaid or default, using roll rates applied to the outstanding portfolio. The roll rates are applied based on the delinquency status of the customer accounts and are further segmented based on the credit risk and remaining duration of the underlying receivables. Estimated recovery rates are applied to the balance at default to calculate the expected credit losses. The modeled expected credit losses are adjusted based on reasonable and supportable forecasts, which may include economic indicators such as commodity prices, industry equipment sales, unemployment rates, and housing starts. The WARM models apply historical average annual loss rates, adjusted for current and forecasted economic conditions, to the projected portfolio runoff. Expected credit losses on wholesale receivables are based on historical loss rates, adjusted for current economic conditions and reasonable and supportable forecasts. Management reviews each model’s output quarterly, and qualitative adjustments are incorporated as necessary.
Troubled Debt Restructuring, Policy	A troubled debt restructuring is generally the modification of debt in which a creditor grants a concession it would not otherwise consider to a debtor that is experiencing financial difficulties. These modifications may include a reduction of the stated interest rate, an extension of the maturity date, a reduction of the face amount or maturity amount of the debt, or a reduction of accrued interest. During the first nine months of 2021, the Company identified 287 Receivable contracts, primarily retail notes, as troubled debt restructurings with aggregate balances of $10.3 million pre-modification and $9.4 million post-modification. During the first nine months of 2020, there were 328 Receivable contracts, primarily retail notes, with aggregate balances of $12.6 million pre-modification and $11.6 million post-modification. The short-term relief related to COVID mentioned on page 11 did not meet the definition of a troubled debt restructuring. During these same periods, there were no significant troubled debt restructurings that subsequently defaulted and were written off. At August 1, 2021, the Company had no commitments to provide additional financing to customers whose accounts were modified in troubled debt restructurings.
Fair Value of Financial Instruments, Policy	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To determine fair value, the Company uses various methods including market and income approaches. The Company utilizes valuation models and techniques that maximize the use of observable inputs. The models are industry-standard models that consider various assumptions including time values and yield curves as well as other economic measures. These valuation techniques are consistently applied.
Derivative Financial Instruments	It is the Company’s policy that derivative transactions are executed only to manage exposures arising in the normal course of business and not for the purpose of creating speculative positions or trading. The Company manages the relationship of the types and amounts of its funding sources to its Receivable and Lease portfolios in an effort to diminish risk due to interest rate and foreign currency fluctuations, while responding to favorable financing opportunities. The Company also has foreign currency exposures at some of its foreign and domestic operations related to financing in currencies other than the functional currencies. All derivatives are recorded at fair value on the consolidated balance sheet. Cash collateral received or paid is not offset against the derivative fair values on the consolidated balance sheet. Each derivative is designated as a cash flow hedge, a fair value hedge, or remains undesignated. All designated hedges are formally documented as to the relationship with the hedged item as well as the risk-management strategy. Both at inception and on an ongoing basis the hedging instrument is assessed as to its effectiveness. If and when a derivative is determined not to be highly effective as a hedge, the underlying hedged transaction is no longer likely to occur, the hedge designation is removed, or the derivative is terminated, hedge accounting is discontinued.

New Accounting Standards (Table

New Accounting Standards (Tables)	9 Months Ended
	Aug. 01, 2021
New Accounting Standards
Schedule of Affected Lines on the Consolidated Balance Sheet from Initially Applying the New Measurement of Credit Losses on Financial Instruments Guidance	The effects of adopting the ASU on the consolidated balance sheet were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ November 1 ​ Cumulative Effect ​ November 2 ​ ​ 2020 ​ from Adoption ​ 2020 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses ​ $ (129.1) ​ $ (19.7) ​ $ (148.8) Deferred income taxes ​ ​ 27.1 ​ ​ .7 ​ ​ 27.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable and accrued expenses ​ $ 922.3 ​ $ (.5) ​ $ 921.8 Deposits withheld from dealers and merchants ​ ​ 114.8 ​ ​ 13.5 ​ ​ 128.3 Deferred income taxes ​ ​ 345.9 ​ ​ (5.8) ​ ​ 340.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stockholder’s equity ​ ​ ​ ​ ​ ​ ​ ​ ​ Retained earnings ​ $ 2,891.6 ​ $ (26.2) ​ $ 2,865.4

Other Comprehensive Income It_2

Other Comprehensive Income Items (Tables)	9 Months Ended
	Aug. 01, 2021
Other Comprehensive Income Items
Schedule of After-Tax Changes in Accumulated Other Comprehensive Income (Loss)	The after-tax changes in accumulated other comprehensive income (loss) were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized Unrealized Accumulated ​ ​ Cumulative ​ Gain (Loss) ​ Gain (Loss) ​ Other ​ ​ Translation ​ on ​ on ​ Comprehensive ​ ​ Adjustment ​ Derivatives ​ Debt Securities ​ Income (Loss) Balance November 3, 2019 ​ $ (88.4) ​ $ (7.0) ​ $ (2.0) ​ $ (97.4) ​ Other comprehensive income (loss) items before reclassification ​ 28.2 ​ (13.9) ​ ​ ​ 14.3 ​ Amounts reclassified from accumulated other comprehensive income ​ ​ ​ ​ 9.1 ​ ​ ​ 9.1 ​ Net current period other comprehensive income (loss) ​ 28.2 ​ (4.8) ​ ​ ​ 23.4 ​ Balance August 2, 2020 ​ $ (60.2) ​ $ (11.8) ​ $ (2.0) ​ $ (74.0) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance November 1, 2020 ​ $ (69.5) ​ $ (6.7) ​ $ (1.6) ​ $ (77.8) ​ Other comprehensive income (loss) items before reclassification ​ 22.6 ​ (.6) ​ (.1) ​ 21.9 ​ Amounts reclassified from accumulated other comprehensive income ​ ​ ​ ​ 6.5 ​ ​ ​ 6.5 ​ Net current period other comprehensive income (loss) ​ 22.6 ​ 5.9 ​ (.1) ​ 28.4 ​ Balance August 1, 2021 ​ $ (46.9) ​ $ (.8) ​ $ (1.7) ​ $ (49.4) ​
Schedule of Amounts Recorded in and Reclassifications out of Other Comprehensive Income (Loss) and the Income Tax Effects	Amounts recorded in and reclassifications out of other comprehensive income (loss), and the income tax effects were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Before ​ Tax ​ After ​ ​ Tax ​ (Expense) ​ Tax Three Months Ended August 1, 2021 ​ Amount ​ Credit ​ Amount Cumulative translation adjustment $ (16.7) ​ ​ ​ ​ $ (16.7) ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (.9) ​ $ .2 ​ (.7) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ 1.6 ​ ​ (.3) ​ ​ 1.3 ​ Net unrealized gain (loss) on derivatives ​ .7 ​ (.1) ​ .6 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ ​ ​ ​ (.2) ​ ​ (.2) ​ Total other comprehensive income (loss) ​ $ (16.0) ​ $ (.3) ​ $ (16.3) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended August 1, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 22.6 ​ ​ ​ ​ $ 22.6 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (.8) ​ $ .2 ​ (.6) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ 8.2 ​ ​ (1.7) ​ ​ 6.5 ​ Net unrealized gain (loss) on derivatives ​ 7.4 ​ (1.5) ​ 5.9 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.2) ​ ​ .1 ​ ​ (.1) ​ Total other comprehensive income (loss) ​ $ 29.8 ​ $ (1.4) ​ $ 28.4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended August 2, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 50.0 ​ ​ ​ ​ $ 50.0 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (1.1) ​ $ .2 ​ (.9) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ 6.4 ​ ​ (1.3) ​ 5.1 ​ Net unrealized gain (loss) on derivatives ​ 5.3 ​ ​ (1.1) ​ 4.2 ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ .6 ​ ​ ​ ​ ​ .6 ​ Total other comprehensive income (loss) ​ $ 55.9 ​ $ (1.1) ​ $ 54.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended August 2, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ $ 28.2 ​ ​ ​ ​ $ 28.2 ​ Unrealized gain (loss) on derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized hedging gain (loss) ​ (17.6) ​ $ 3.7 ​ (13.9) ​ Reclassification of realized (gain) loss to: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts – Interest expense ​ 11.5 ​ ​ (2.4) ​ 9.1 ​ Net unrealized gain (loss) on derivatives ​ (6.1) ​ 1.3 ​ (4.8) ​ Unrealized gain (loss) on debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized holding gain (loss) ​ ​ (.8) ​ ​ .8 ​ ​ ​ ​ Total other comprehensive income (loss) ​ $ 21.3 ​ $ 2.1 ​ $ 23.4 ​

Receivables (Tables)

Receivables (Tables)	9 Months Ended
	Aug. 01, 2021
Receivables
Analysis of the Allowance for Credit Losses and Investment in Receivables	An analysis of the allowance for credit losses and investment in Receivables during 2021 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ August 1, 2021 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 101.3 ​ $ 18.9 ​ $ 9.6 ​ $ 129.8 ​ Provision (credit) for credit losses* ​ 13.6 ​ ​ (.1) ​ ​ 2.2 ​ ​ 15.7 ​ Write-offs ​ (8.5) ​ ​ (8.4) ​ ​ (.2) ​ ​ (17.1) ​ Recoveries ​ 3.2 ​ ​ 7.6 ​ ​ ​ ​ ​ 10.8 ​ Translation adjustments ​ (.2) ​ ​ .1 ​ ​ (.1) ​ ​ (.2) ​ End of period balance ​ $ 109.4 ​ $ 18.1 ​ $ 11.5 ​ $ 139.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended ​ ​ August 1, 2021 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 76.9 ​ $ 42.3 ​ $ 9.9 ​ $ 129.1 ​ ASU No. 2016-13 adoption (see Note 2) ​ ​ 32.5 ​ ​ (12.2) ​ ​ (.6) ​ ​ 19.7 ​ Provision (credit) for credit losses* ​ 11.2 ​ ​ (15.9) ​ ​ 2.1 ​ ​ (2.6) ​ Write-offs ​ (19.7) ​ ​ (22.7) ​ ​ (.3) ​ ​ (42.7) ​ Recoveries ​ 8.1 ​ ​ 26.6 ​ ​ ​ ​ ​ 34.7 ​ Translation adjustments ​ .4 ​ ​ ​ ​ ​ .4 ​ ​ .8 ​ End of period balance ​ $ 109.4 ​ $ 18.1 ​ $ 11.5 ​ $ 139.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance ​ $ 25,264.3 ​ $ 3,687.7 ​ $ 7,731.2 ​ $ 36,683.2 ​ ​ * An analysis of the allowance for credit losses and investment in Receivables during 2020 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ August 2, 2020 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 88.4 ​ $ 42.3 ​ $ 9.1 ​ $ 139.8 ​ Provision (credit) for credit losses ​ 3.3 ​ ​ 13.2 ​ ​ (.5) ​ 16.0 ​ Write-offs ​ (5.5) ​ ​ (21.3) ​ ​ (.1) ​ (26.9) ​ Recoveries ​ 2.4 ​ ​ 8.1 ​ ​ .4 ​ 10.9 ​ Translation adjustments ​ .4 ​ ​ ​ ​ ​ .4 ​ .8 ​ End of period balance ​ $ 89.0 ​ $ 42.3 ​ $ 9.3 ​ $ 140.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended ​ ​ August 2, 2020 ​ ​ Retail Notes ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ & Financing ​ Charge ​ Wholesale ​ Total ​ ​ Leases ​ Accounts ​ Receivables ​ Receivables Allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of period balance ​ $ 53.7 ​ $ 39.3 ​ $ 7.6 ​ $ 100.6 ​ Provision (credit) for credit losses ​ 70.5 ​ ​ 31.3 ​ ​ (1.0) ​ 100.8 ​ Write-offs ​ (39.6) ​ ​ (50.1) ​ ​ (.9) ​ (90.6) ​ Recoveries ​ 4.5 ​ ​ 21.8 ​ ​ 1.3 ​ 27.6 ​ Translation adjustments ​ (.1) ​ ​ ​ ​ ​ 2.3 ​ 2.2 ​ End of period balance ​ $ 89.0 ​ $ 42.3 ​ $ 9.3 ​ $ 140.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ End of period balance ​ $ 21,302.2 ​ $ 3,918.3 ​ $ 8,428.8 ​ $ 33,649.3 ​
Customer Receivables
Receivables
Credit Quality Analysis	The credit quality analysis of retail notes, financing leases, and revolving charge accounts (collectively, Customer Receivables) at August 1, 2021 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year of Origination ​ ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ Prior ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 8,075.6 ​ $ 6,472.1 ​ $ 3,246.0 ​ $ 1,695.6 ​ $ 733.9 ​ $ 207.4 ​ $ 3,570.9 ​ $ 24,001.5 30-59 days past due ​ ​ 31.1 ​ ​ 42.1 ​ ​ 25.1 ​ ​ 14.9 ​ ​ 5.3 ​ ​ 2.7 ​ ​ 11.4 ​ ​ 132.6 60-89 days past due ​ ​ 11.7 ​ ​ 21.4 ​ ​ 10.0 ​ ​ 4.4 ​ ​ 2.6 ​ ​ 1.1 ​ ​ 3.4 ​ ​ 54.6 90+ days past due ​ ​ .1 ​ ​ .5 ​ ​ .2 ​ ​ .2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1.0 Non-performing ​ ​ 11.0 ​ ​ 45.8 ​ ​ 31.6 ​ ​ 28.3 ​ ​ 13.1 ​ ​ 14.4 ​ ​ 5.7 ​ ​ 149.9 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 1,765.6 ​ ​ 1,413.7 ​ ​ 715.0 ​ ​ 281.3 ​ ​ 63.2 ​ ​ 10.6 ​ ​ 91.5 ​ ​ 4,340.9 30-59 days past due ​ ​ 28.2 ​ ​ 38.0 ​ ​ 21.8 ​ ​ 8.0 ​ ​ 2.7 ​ ​ .7 ​ ​ 2.9 ​ ​ 102.3 60-89 days past due ​ ​ 11.3 ​ ​ 16.1 ​ ​ 8.6 ​ ​ 4.2 ​ ​ 1.3 ​ ​ .3 ​ ​ 1.1 ​ ​ 42.9 90+ days past due ​ ​ 3.2 ​ ​ ​ ​ ​ 4.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 7.7 Non-performing ​ ​ 9.0 ​ ​ 44.1 ​ ​ 36.0 ​ ​ 17.7 ​ ​ 7.2 ​ ​ 3.8 ​ ​ .8 ​ ​ 118.6 Total Customer Receivables ​ $ 9,946.8 ​ $ 8,093.8 ​ $ 4,098.8 ​ $ 2,054.6 ​ $ 829.3 ​ $ 241.0 ​ $ 3,687.7 ​ $ 28,952.0
Age Credit Quality Analysis	The credit quality analysis of Customer Receivables at November 1, 2020 and August 2, 2020 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ November 1, 2020 ​ August 2, 2020 ​ ​ Retail Notes & Financing Leases ​ Revolving Charge Accounts ​ Total ​ Retail Notes & Financing Leases ​ Revolving Charge Accounts ​ Total Customer Receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 18,341.2 ​ $ 3,710.3 ​ $ 22,051.5 ​ $ 17,188.9 ​ $ 3,794.6 ​ $ 20,983.5 30-59 days past due ​ ​ 111.4 ​ ​ 11.5 ​ ​ 122.9 ​ ​ 114.3 ​ ​ 18.3 ​ ​ 132.6 60-89 days past due ​ ​ 47.6 ​ ​ 3.5 ​ ​ 51.1 ​ ​ 59.4 ​ ​ 3.5 ​ ​ 62.9 90+ days past due ​ ​ 2.0 ​ ​ ​ ​ ​ 2.0 ​ ​ 3.6 ​ ​ ​ ​ ​ 3.6 Non-performing ​ ​ 172.7 ​ ​ 5.4 ​ ​ 178.1 ​ ​ 204.9 ​ ​ 7.4 ​ ​ 212.3 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 3,759.5 ​ ​ 92.3 ​ ​ 3,851.8 ​ ​ 3,572.8 ​ ​ 90.2 ​ ​ 3,663.0 30-59 days past due ​ ​ 82.0 ​ ​ 2.4 ​ ​ 84.4 ​ ​ 60.4 ​ ​ 2.6 ​ ​ 63.0 60-89 days past due ​ ​ 38.8 ​ ​ 1.1 ​ ​ 39.9 ​ ​ 14.6 ​ ​ 1.0 ​ ​ 15.6 90+ days past due ​ ​ 1.9 ​ ​ ​ ​ ​ 1.9 ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-performing ​ ​ 79.5 ​ ​ .9 ​ ​ 80.4 ​ ​ 83.3 ​ ​ .7 ​ ​ 84.0 Total Customer Receivables ​ $ 22,636.6 ​ $ 3,827.4 ​ $ 26,464.0 ​ $ 21,302.2 ​ $ 3,918.3 ​ $ 25,220.5
Wholesale Receivables
Receivables
Credit Quality Analysis	The credit quality analysis of wholesale receivables at August 1, 2021 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year of Origination ​ ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ Prior ​ Revolving ​ Total Wholesale receivables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 260.9 ​ $ 106.2 ​ $ 30.6 ​ $ 12.5 ​ $ 3.1 ​ $ .5 ​ $ 5,946.0 ​ $ 6,359.8 30-59 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 10.1 ​ ​ 10.1 60-89 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.8 ​ ​ 3.8 90+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2.8 ​ ​ 2.8 Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4.3 ​ ​ 4.3 Construction and forestry ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ ​ 7.5 ​ ​ 5.1 ​ ​ 3.9 ​ ​ .4 ​ ​ ​ ​ ​ ​ ​ ​ 1,332.0 ​ ​ 1,348.9 30-59 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1.3 ​ ​ 1.3 60-89 days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ .2 ​ ​ .2 90+ days past due ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-performing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total wholesale receivables ​ $ 268.4 ​ $ 111.3 ​ $ 34.5 ​ $ 12.9 ​ $ 3.1 ​ $ .5 ​ $ 7,300.5 ​ $ 7,731.2
Age Credit Quality Analysis	The credit quality analysis of wholesale receivables at November 1, 2020 and August 2, 2020 was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ November 1, 2020 ​ August 2, 2020 Wholesale receivables: ​ ​ ​ ​ Agriculture and turf ​ ​ ​ ​ ​ ​ Current ​ $ 5,693.7 ​ $ 6,905.0 30-59 days past due ​ ​ 3.9 ​ ​ 10.9 60-89 days past due ​ ​ 4.4 ​ ​ 1.1 90+ days past due ​ ​ 1.1 ​ ​ 1.4 Non-performing ​ ​ 4.0 ​ ​ 3.8 Construction and forestry ​ ​ ​ ​ ​ ​ Current ​ ​ 1,385.9 ​ ​ 1,499.6 30-59 days past due ​ ​ .3 ​ ​ 3.4 60-89 days past due ​ ​ ​ ​ ​ .3 90+ days past due ​ ​ ​ ​ ​ 1.1 Non-performing ​ ​ ​ ​ ​ 2.2 Total wholesale receivables ​ $ 7,093.3 ​ $ 8,428.8

Securitization of Receivables (

Securitization of Receivables (Tables)	9 Months Ended
	Aug. 01, 2021
Securitization of Receivables
Unconsolidated Conduits, Carrying Amount of Liabilities Compared to Maximum Exposure to Loss	The Company’s carrying amount of the liabilities to the unconsolidated conduits, compared to the maximum exposure to loss related to these conduits, which would only be incurred in the event of a complete loss on the restricted assets was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ ​ ​ ​ ​ ​ ​ Carrying value of liabilities ​ $ 1,259.0 ​ ​ ​ ​ ​ ​ ​ Maximum exposure to loss ​ 1,341.2 ​ ​ ​ ​ ​ ​ ​
Components of Consolidated Restricted Assets, Secured Borrowings and Other Liabilities Related to Securitization Transactions	The components of consolidated restricted assets related to secured borrowings in securitization transactions were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1 ​ November 1 ​ August 2 ​ ​ 2021 ​ 2020 ​ 2020 Retail notes securitized ​ $ 5,408.2 ​ $ 4,689.2 ​ $ 5,446.2 ​ Allowance for credit losses ​ (19.9) ​ (12.6) ​ (14.0) ​ Other assets ​ 112.7 ​ 97.9 ​ 104.0 ​ Total restricted securitized assets ​ $ 5,501.0 ​ $ 4,774.5 ​ $ 5,536.2 ​ The components of consolidated secured borrowings and other liabilities related to securitizations were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1 ​ November 1 ​ August 2 ​ ​ 2021 ​ 2020 ​ 2020 Securitization borrowings ​ $ 5,264.6 ​ $ 4,656.2 ​ $ 5,324.1 ​ Accrued interest on borrowings ​ 2.1 ​ 3.2 ​ 4.1 ​ Total liabilities related to restricted securitized assets ​ $ 5,266.7 ​ $ 4,659.4 ​ $ 5,328.2 ​

Leases (Tables)

Leases (Tables)	9 Months Ended
	Aug. 01, 2021
Leases
Schedule of Lease Revenues Earned	Lease revenues earned by the Company were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ August 1 ​ August 2 ​ August 1 ​ August 2 ​ ​ 2021 ​ 2020 ​ 2021 ​ 2020 Sales-type and direct financing lease revenues ​ $ 12.7 ​ $ 12.0 ​ $ 35.8 ​ $ 34.3 Operating lease revenues ​ ​ 237.9 ​ ​ 253.5 ​ ​ 724.3 ​ ​ 768.8 Variable lease revenues ​ 5.1 ​ 4.8 ​ 15.4 ​ 14.7 Total lease revenues ​ $ 255.7 ​ $ 270.3 ​ $ 775.5 ​ $ 817.8 ​ Variable lease revenues reported above primarily relate to separately invoiced property taxes on leased equipment in certain markets and late fees.
Schedule of Cost of Equipment on Operating Leases by Product Category	The cost of equipment on operating leases by product category was as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1 ​ November 1 ​ August 2 ​ ​ 2021 ​ 2020 ​ 2020 Agriculture and turf ​ $ 5,043.4 ​ $ 5,210.4 ​ $ 5,082.8 Construction and forestry ​ ​ 1,391.3 ​ 1,595.3 ​ 1,648.3 Total ​ ​ 6,434.7 ​ ​ 6,805.7 ​ ​ 6,731.1 Accumulated depreciation ​ (1,470.9) ​ ​ (1,507.9) ​ ​ (1,473.9) Equipment on operating leases - net ​ $ 4,963.8 ​ $ 5,297.8 ​ $ 5,257.2

Notes Receivable from John De_2

Notes Receivable from John Deere (Tables)	9 Months Ended
	Aug. 01, 2021
Notes Receivable from John Deere
Notes Receivable from John Deere	The Company had notes receivable from John Deere with the following affiliated companies as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1 ​ November 1 ​ August 2 ​ ​ ​ 2021 ​ 2020 ​ 2020 ​ Limited Liability Company John Deere Financial ​ $ 198.6 ​ $ 132.5 ​ $ 125.6 ​ Banco John Deere S.A. ​ ​ 167.4 ​ 217.5 ​ 241.2 ​ Total Notes Receivable from John Deere ​ $ 366.0 ​ $ 350.0 ​ $ 366.8 ​

Long-Term Borrowings (Tables)

Long-Term Borrowings (Tables)	9 Months Ended
	Aug. 01, 2021
Long-Term Borrowings
Long-Term Borrowings	Long-term borrowings of the Company at August 1, 2021, November 1, 2020, and August 2, 2020 consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1 ​ November 1 ​ August 2 ​ 2021 ​ 2020 ​ 2020 Senior Debt: ​ ​ ​ ​ ​ ​ ​ ​ Medium-term notes $ 20,174.1 ​ $ 19,320.6 ​ $ 20,499.8 Other notes ​ ​ 19.8 ​ ​ 38.2 ​ ​ 43.3 Total senior debt ​ ​ 20,193.9 ​ ​ 19,358.8 ​ ​ 20,543.1 Unamortized debt discount and debt issuance costs ​ ​ (57.2) ​ ​ (47.7) ​ ​ (51.0) Total ​ $ 20,136.7 ​ $ 19,311.1 ​ $ 20,492.1 ​ The medium-term notes in the table above include fair value adjustments related to interest rate swaps. The principal balances of the medium-term notes were $19,722.5, $18,668.9, and $19,722.7 million at August 1, 2021, November 1, 2020, and August 2, 2020, respectively.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Aug. 01, 2021
Fair Value Measurements
Fair Value of Financial Instruments	The fair values of financial instruments that do not approximate the carrying values were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1, 2021 ​ November 1, 2020 ​ August 2, 2020 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ Carrying ​ Fair ​ ​ Value ​ Value ​ Value ​ Value ​ Value ​ Value Receivables financed – net ​ $ 31,155.9 ​ $ 31,264.6 ​ $ 28,751.6 ​ $ 28,931.7 ​ $ 28,076.5 ​ $ 28,275.8 ​ Retail notes securitized – net ​ 5,388.3 ​ 5,454.3 ​ 4,676.6 ​ 4,772.9 ​ 5,432.2 ​ 5,543.9 ​ Securitization borrowings ​ 5,264.6 ​ 5,289.3 ​ 4,656.2 ​ 4,697.6 ​ 5,324.1 ​ 5,380.7 ​ Current maturities of long-term borrowings ​ 5,746.0 ​ 5,800.4 ​ 5,741.6 ​ 5,801.1 ​ 4,910.2 ​ 4,958.2 ​ Long-term borrowings ​ ​ 20,136.7 ​ ​ 20,557.9 ​ ​ 19,311.1 ​ 19,784.4 ​ ​ 20,492.1 ​ ​ 21,038.2 ​ ​ Fair value measurements above were Level 3 for all Receivables and Level 2 for all borrowings.
Assets and Liabilities Measured at Fair Value as Level 2 Measurements on a Recurring Basis	Assets and liabilities measured at fair value as Level 2 measurements on a recurring basis were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1 November 1 August 2 ​ ​ 2021 ​ 2020 ​ 2020 Marketable securities ​ ​ ​ ​ ​ ​ ​ International debt securities ​ $ 2.1 ​ $ 2.2 ​ $ 2.4 ​ Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ ​ 331.7 ​ ​ 575.5 ​ ​ 795.4 ​ Cross-currency interest rate contracts ​ 2.0 ​ 7.7 ​ 9.1 ​ Other assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts ​ .5 ​ 3.8 ​ 3.7 ​ Total assets ​ $ 336.3 ​ $ 589.2 ​ $ 810.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other payables to John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 43.4 ​ $ 29.4 ​ $ 42.5 ​ Cross-currency interest rate contracts ​ 2.3 ​ ​ .7 ​ .1 ​ Accounts payable and accrued expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts ​ 1.7 ​ .9 ​ 6.2 ​ Total liabilities ​ $ 47.4 ​ $ 31.0 ​ $ 48.8 ​ Excluded from the table above were the Company’s cash equivalents, which were carried at cost that approximates fair value. The cash equivalents consist primarily of time deposits and money market funds.
Fair Value, Nonrecurring Level 3 Measurements from Impairments	Fair value, nonrecurring Level 3 measurements from impairments, excluding Receivables with specific allowances which were not material, were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ Losses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ August 1 ​ November 1 ​ August 2 ​ August 1 ​ August 2 ​ August 1 ​ August 2 ​ ​ 2021 ​ 2020 ​ 2020 ​ 2021 ​ 2020 ​ 2021 ​ 2020 Equipment on operating leases – net ​ ​ $ 340.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 21.0 Other assets ​ ​ ​ ​ ​ 56.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 9.8 Total ​ ​ ​ ​ $ 396.8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 30.8 The fair value shown for November 1, 2020 in the table above represents the fair value assessment at May 3, 2020, as the result of impairments taken on operating leases and matured operating lease inventory in the second quarter of 2020 (see Note 6).

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Aug. 01, 2021
Derivative Instruments
Amounts Recorded in the Consolidated Balance Sheet Related to Borrowings Designated in Fair Value Hedging Relationships	The amounts recorded in the consolidated balance sheet related to borrowings designated in fair value hedging relationships were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative Increase (Decrease) of Fair Value ​ ​ ​ ​ ​ ​ Hedging Adjustments Included in the ​ ​ ​ ​ ​ ​ Carrying Amount ​ ​ ​ Carrying ​ Active ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of ​ Hedging ​ Discontinued ​ ​ ​ August 1, 2021 ​ Hedged Item ​ Relationships ​ Relationships ​ Total ​ Current maturities of long-term borrowings ​ $ 187.8 ​ $ 4.0 ​ $ (.9) ​ $ 3.1 ​ Long-term borrowings ​ ​ 8,165.4 ​ ​ 261.3 ​ ​ 190.3 ​ ​ 451.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ November 1, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term borrowings ​ $ 2.5 ​ ​ ​ ​ $ 2.5 ​ $ 2.5 ​ Long-term borrowings ​ ​ 7,149.8 ​ $ 530.0 ​ ​ 121.6 ​ ​ 651.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 2, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term borrowings ​ $ 104.6 ​ $ 2.6 ​ $ 2.0 ​ $ 4.6 ​ Long-term borrowings ​ ​ 8,826.4 ​ ​ 737.6 ​ ​ 39.5 ​ ​ 777.1 ​
Fair Value of Derivative Instruments in Consolidated Balance Sheet	Fair values of derivative instruments in the consolidated balance sheet were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1 November 1 August 2 ​ ​ 2021 ​ 2020 ​ 2020 Receivables from John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 321.0 ​ $ 565.2 ​ $ 785.3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ 10.7 ​ 10.3 ​ 10.1 ​ Cross-currency interest rate contracts ​ 2.0 ​ 7.7 ​ 9.1 ​ Total not designated ​ 12.7 ​ 18.0 ​ 19.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts ​ .5 ​ 3.8 ​ 3.7 ​ Total not designated ​ .5 ​ 3.8 ​ 3.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative assets ​ $ 334.2 ​ $ 587.0 ​ $ 808.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Payables to John Deere ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ $ 32.3 ​ $ 12.7 ​ $ 24.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts ​ 11.1 ​ 16.7 ​ 18.4 ​ Cross-currency interest rate contracts ​ ​ 2.3 ​ ​ .7 ​ .1 ​ Total not designated ​ 13.4 ​ 17.4 ​ 18.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts Payable and Accrued Expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts ​ 1.7 ​ .9 ​ 6.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative liabilities ​ $ 47.4 ​ $ 31.0 ​ $ 48.8 ​ ​
Gains (Losses) Related to Derivative Instruments on Statement of Consolidated Income	The classification and gains (losses) including accrued interest expense related to derivative instruments on the statement of consolidated income consisted of the following (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ August 1 ​ August 2 ​ August 1 ​ August 2 ​ 2021 2020 2021 2020 Fair Value Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense $ 139.9 ​ $ 76.7 ​ $ (70.7) ​ $ 568.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recognized in OCI ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - OCI (pretax) (.9) ​ (1.1) ​ (.8) ​ (17.6) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reclassified from OCI ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense (1.6) ​ (6.4) ​ (8.2) ​ (11.5) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not Designated as Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts - Interest expense * $ (2.9) ​ $ (2.2) ​ $ (4.5) ​ $ (3.0) ​ Foreign exchange contracts - Administrative and operating expenses * (4.5) ​ (47.2) ​ (20.0) ​ 47.3 ​ Total not designated ​ $ (7.4) ​ $ (49.4) ​ $ (24.5) ​ $ 44.3 ​ * Includes interest and foreign exchange gains (losses) from cross-currency interest rate contracts.
Impact on Derivative Assets and Liabilities for External Derivatives and those with John Deere Related to Netting Arrangements and Collateral	Derivatives are recorded without offsetting for netting arrangements or collateral. The impact on the derivative assets and liabilities for external derivatives and those with John Deere related to netting arrangements and any collateral received or paid were as follows (in millions of dollars): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 1, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ External ​ $ .5 ​ $ (.1) ​ ​ ​ ​ $ .4 ​ John Deere ​ 333.7 ​ ​ (43.1) ​ ​ ​ ​ 290.6 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ 1.7 ​ (.1) ​ ​ ​ ​ 1.6 ​ John Deere ​ 45.7 ​ (43.1) ​ ​ ​ 2.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ November 1, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ External ​ $ 3.8 ​ $ (.7) ​ ​ ​ ​ $ 3.1 ​ John Deere ​ 583.2 ​ (23.5) ​ ​ ​ 559.7 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ .9 ​ (.7) ​ ​ ​ .2 ​ John Deere ​ 30.1 ​ (23.5) ​ ​ ​ 6.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 2, 2020 ​ ​ ​ ​ ​ ​ ​ Derivatives: ​ Gross Amounts ​ Netting ​ Collateral ​ Net Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ $ 3.7 ​ $ (.2) ​ ​ ​ ​ $ 3.5 ​ John Deere ​ 804.5 ​ ​ (35.4) ​ ​ ​ ​ 769.1 ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ External ​ 6.2 ​ (.2) ​ ​ ​ 6.0 ​ John Deere ​ 42.6 ​ (35.4) ​ ​ ​ 7.2 ​

Organization and Consolidatio_2

Organization and Consolidation (Details)	3 Months Ended		9 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020
Fiscal Period Duration
Fiscal year duration	91 days	91 days	273 days	273 days

New Accounting Standards (Detai

New Accounting Standards (Details) - USD ($) $ in Millions	9 Months Ended
	Aug. 01, 2021	May 02, 2021	Nov. 02, 2020	Nov. 01, 2020	Aug. 02, 2020	May 03, 2020	Nov. 03, 2019
Assets
Allowance for credit losses	$ (139)	$ (129.8)	$ (148.8)	$ (129.1)	$ (140.6)	$ (139.8)	$ (100.6)
Deferred income taxes	34.9		27.8	27.1	37.3
Liabilities
Accounts payable and accrued expenses	839		921.8	922.3	876
Deposits withheld from dealers and merchants	125.5		128.3	114.8	105.6
Deferred income taxes	288.9		340.1	345.9	423.3
Retained earnings	$ 3,165		$ 2,865.4	2,891.6	$ 2,762.9
ASU 2016-13
New accounting standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Transition Option Elected [Fixed List]	jdcc:AccountingStandardsUpdate201613CumulativeEffectPeriodOfAdoptionMember
ASU 2016-13 | Cumulative Effect from Adoption
Assets
Allowance for credit losses				(19.7)
Deferred income taxes				0.7
Liabilities
Accounts payable and accrued expenses				(0.5)
Deposits withheld from dealers and merchants				13.5
Deferred income taxes				(5.8)
Retained earnings				$ (26.2)
ASU 2018-15
New accounting standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2019-04
New accounting standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2021-01
New accounting standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
ASU 2019-12
New accounting standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false
ASU 2020-08
New accounting standards
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false

Other Comprehensive Income It_3

Other Comprehensive Income Items - After-Tax Changes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020
After-tax changes in accumulated other comprehensive income (loss)
Balance			$ 4,296.6
Net current period other comprehensive income (loss)	$ (16.3)	$ 54.8	28.4	$ 23.4
Balance	4,598.4	4,171.7	4,598.4	4,171.7
Accumulated Other Comprehensive Income (Loss)
After-tax changes in accumulated other comprehensive income (loss)
Balance			(77.8)	(97.4)
Other comprehensive income (loss) items before reclassification			21.9	14.3
Amounts reclassified from accumulated other comprehensive income			6.5	9.1
Net current period other comprehensive income (loss)	(16.3)	54.8	28.4	23.4
Balance	(49.4)	(74)	(49.4)	(74)
Cumulative Translation Adjustment
After-tax changes in accumulated other comprehensive income (loss)
Balance			(69.5)	(88.4)
Other comprehensive income (loss) items before reclassification			22.6	28.2
Net current period other comprehensive income (loss)			22.6	28.2
Balance	(46.9)	(60.2)	(46.9)	(60.2)
Unrealized Gain (Loss) on Derivatives
After-tax changes in accumulated other comprehensive income (loss)
Balance			(6.7)	(7)
Other comprehensive income (loss) items before reclassification			(0.6)	(13.9)
Amounts reclassified from accumulated other comprehensive income			6.5	9.1
Net current period other comprehensive income (loss)			5.9	(4.8)
Balance	(0.8)	(11.8)	(0.8)	(11.8)
Unrealized Gain (Loss) on Debt Securities
After-tax changes in accumulated other comprehensive income (loss)
Balance			(1.6)	(2)
Other comprehensive income (loss) items before reclassification			(0.1)
Net current period other comprehensive income (loss)			(0.1)
Balance	$ (1.7)	$ (2)	$ (1.7)	$ (2)

Other Comprehensive Income It_4

Other Comprehensive Income Items - Amounts Recorded in and Reclassifications out of (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020
Other comprehensive income (loss), before tax
Interest expense	$ (114.1)	$ (161.3)	$ (373.1)	$ (597.7)
Administrative and operating expenses	(105.5)	(92)	(304.3)	(357.9)
Total other comprehensive income (loss), before tax	(16)	55.9	29.8	21.3
Other comprehensive income (loss), tax (expense) credit
Total other comprehensive income (loss), tax (expense) credit	(0.3)	(1.1)	(1.4)	2.1
Other comprehensive income (loss), after tax
Other comprehensive income (loss), net of income taxes	(16.3)	54.8	28.4	23.4
Cumulative Translation Adjustment
Other comprehensive income (loss), before tax
Total other comprehensive income (loss), before tax	(16.7)	50	22.6	28.2
Other comprehensive income (loss), after tax
Other comprehensive income (loss), net of income taxes	(16.7)	50	22.6	28.2
Unrealized Gain (Loss) on Derivatives
Other comprehensive income (loss), before tax
Other comprehensive income (loss) before reclassification, before tax	(0.9)	(1.1)	(0.8)	(17.6)
Total other comprehensive income (loss), before tax	0.7	5.3	7.4	(6.1)
Other comprehensive income (loss), tax (expense) credit
Other comprehensive income (loss) before reclassification, tax (expense) credit	0.2	0.2	0.2	3.7
Total other comprehensive income (loss), tax (expense) credit	(0.1)	(1.1)	(1.5)	1.3
Other comprehensive income (loss), after tax
Other comprehensive income (loss) before reclassification, after tax	0.7	(0.9)	(0.6)	(13.9)
Other comprehensive income (loss), net of income taxes	0.6	4.2	5.9	(4.8)
Unrealized Gain (Loss) on Derivatives | Interest rate contracts | Reclassifications of gains (losses) out of accumulated other comprehensive income
Other comprehensive income (loss), before tax
Interest expense	1.6	6.4	8.2	11.5
Other comprehensive income (loss), tax (expense) credit
Reclassification of realized (gain) loss, tax expense (credit)	(0.3)	(1.3)	(1.7)	(2.4)
Other comprehensive income (loss), after tax
Reclassification of realized (gain) loss, after tax	1.3	5.1	6.5	9.1
Unrealized Gain (Loss) on Debt Securities
Other comprehensive income (loss), before tax
Total other comprehensive income (loss), before tax		0.6	(0.2)	(0.8)
Other comprehensive income (loss), tax (expense) credit
Total other comprehensive income (loss), tax (expense) credit	(0.2)		0.1	$ 0.8
Other comprehensive income (loss), after tax
Other comprehensive income (loss), net of income taxes	$ (0.2)	$ 0.6	$ (0.1)

Receivables - Financing Receiva

Receivables - Financing Receivables Past Due (Details)	9 Months Ended
	Aug. 01, 2021
Receivable, Past Due
Minimum number of days for a receivable to be considered past due	30 days
COVID-19
Receivable, Past Due
Percentage of financing receivables granted relief (as a percent)	3.00%
Retail notes
Receivable, Past Due
Generally the number of days for a financing receivable to be considered non-performing	90 days
Generally the number of days before a receivable is delinquent and the estimated uncollectible amount is written off	120 days
Revolving charge accounts
Receivable, Past Due
Generally the number of days for a financing receivable to be considered non-performing	90 days
Generally the number of days before a receivable is delinquent and the estimated uncollectible amount is written off	120 days
Wholesale Receivables
Receivable, Past Due
Generally the number of days for a financing receivable to be considered non-performing	60 days
Generally the number of days before a receivable is delinquent and the estimated uncollectible amount is written off	60 days
Financing Leases
Receivable, Past Due
Generally the number of days for a financing receivable to be considered non-performing	90 days
Generally the number of days before a receivable is delinquent and the estimated uncollectible amount is written off	120 days

Receivables - Customer Receivab

Receivables - Customer Receivables Credit Quality Analysis (Details) - USD ($) $ in Millions	Aug. 01, 2021	Nov. 01, 2020	Aug. 02, 2020
Credit Quality Analysis
Total Receivables	$ 36,683.2	$ 33,557.3	$ 33,649.3
Customer Receivables
Credit Quality Analysis
2021	9,946.8
2020	8,093.8
2019	4,098.8
2018	2,054.6
2017	829.3
Prior	241
Revolving	3,687.7
Total Receivables	28,952	26,464	25,220.5
Customer Receivables | Agriculture and turf | 30-59 Days Past Due
Credit Quality Analysis
2021	31.1
2020	42.1
2019	25.1
2018	14.9
2017	5.3
Prior	2.7
Revolving	11.4
Total Receivables	132.6	122.9	132.6
Customer Receivables | Agriculture and turf | 60-89 Days Past Due
Credit Quality Analysis
2021	11.7
2020	21.4
2019	10
2018	4.4
2017	2.6
Prior	1.1
Revolving	3.4
Total Receivables	54.6	51.1	62.9
Customer Receivables | Agriculture and turf | 90 Days or Greater Past Due
Credit Quality Analysis
2021	0.1
2020	0.5
2019	0.2
2018	0.2
Total Receivables	1	2	3.6
Customer Receivables | Agriculture and turf | Current
Credit Quality Analysis
2021	8,075.6
2020	6,472.1
2019	3,246
2018	1,695.6
2017	733.9
Prior	207.4
Revolving	3,570.9
Total Receivables	24,001.5
Customer Receivables | Agriculture and turf | Non-performing
Credit Quality Analysis
2021	11
2020	45.8
2019	31.6
2018	28.3
2017	13.1
Prior	14.4
Revolving	5.7
Total Receivables	149.9
Customer Receivables | Construction and forestry | 30-59 Days Past Due
Credit Quality Analysis
2021	28.2
2020	38
2019	21.8
2018	8
2017	2.7
Prior	0.7
Revolving	2.9
Total Receivables	102.3	84.4	63
Customer Receivables | Construction and forestry | 60-89 Days Past Due
Credit Quality Analysis
2021	11.3
2020	16.1
2019	8.6
2018	4.2
2017	1.3
Prior	0.3
Revolving	1.1
Total Receivables	42.9	39.9	$ 15.6
Customer Receivables | Construction and forestry | 90 Days or Greater Past Due
Credit Quality Analysis
2021	3.2
2019	4.5
Total Receivables	7.7	$ 1.9
Customer Receivables | Construction and forestry | Current
Credit Quality Analysis
2021	1,765.6
2020	1,413.7
2019	715
2018	281.3
2017	63.2
Prior	10.6
Revolving	91.5
Total Receivables	4,340.9
Customer Receivables | Construction and forestry | Non-performing
Credit Quality Analysis
2021	9
2020	44.1
2019	36
2018	17.7
2017	7.2
Prior	3.8
Revolving	0.8
Total Receivables	$ 118.6

Receivables - Customer Receiv_2

Receivables - Customer Receivables Age Credit Quality Analysis (Details) - USD ($) $ in Millions	Aug. 01, 2021	Nov. 01, 2020	Aug. 02, 2020
Age Credit Quality Analysis
Total Receivables	$ 36,683.2	$ 33,557.3	$ 33,649.3
Customer Receivables
Age Credit Quality Analysis
Total Receivables	28,952	26,464	25,220.5
Customer Receivables | Agriculture and turf
Age Credit Quality Analysis
Non-performing		178.1	212.3
Customer Receivables | Agriculture and turf | Current
Age Credit Quality Analysis
Total Receivables		22,051.5	20,983.5
Customer Receivables | Agriculture and turf | 30-59 Days Past Due
Age Credit Quality Analysis
Total Receivables	132.6	122.9	132.6
Customer Receivables | Agriculture and turf | 60-89 Days Past Due
Age Credit Quality Analysis
Total Receivables	54.6	51.1	62.9
Customer Receivables | Agriculture and turf | 90 Days or Greater Past Due
Age Credit Quality Analysis
Total Receivables	1	2	3.6
Customer Receivables | Construction and forestry
Age Credit Quality Analysis
Non-performing		80.4	84
Customer Receivables | Construction and forestry | Current
Age Credit Quality Analysis
Total Receivables		3,851.8	3,663
Customer Receivables | Construction and forestry | 30-59 Days Past Due
Age Credit Quality Analysis
Total Receivables	102.3	84.4	63
Customer Receivables | Construction and forestry | 60-89 Days Past Due
Age Credit Quality Analysis
Total Receivables	42.9	39.9	15.6
Customer Receivables | Construction and forestry | 90 Days or Greater Past Due
Age Credit Quality Analysis
Total Receivables	7.7	1.9
Retail Notes and Financing Leases
Age Credit Quality Analysis
Total Receivables	25,264.3	22,636.6	21,302.2
Retail Notes and Financing Leases | Agriculture and turf
Age Credit Quality Analysis
Non-performing		172.7	204.9
Retail Notes and Financing Leases | Agriculture and turf | Current
Age Credit Quality Analysis
Total Receivables		18,341.2	17,188.9
Retail Notes and Financing Leases | Agriculture and turf | 30-59 Days Past Due
Age Credit Quality Analysis
Total Receivables		111.4	114.3
Retail Notes and Financing Leases | Agriculture and turf | 60-89 Days Past Due
Age Credit Quality Analysis
Total Receivables		47.6	59.4
Retail Notes and Financing Leases | Agriculture and turf | 90 Days or Greater Past Due
Age Credit Quality Analysis
Total Receivables		2	3.6
Retail Notes and Financing Leases | Construction and forestry
Age Credit Quality Analysis
Non-performing		79.5	83.3
Retail Notes and Financing Leases | Construction and forestry | Current
Age Credit Quality Analysis
Total Receivables		3,759.5	3,572.8
Retail Notes and Financing Leases | Construction and forestry | 30-59 Days Past Due
Age Credit Quality Analysis
Total Receivables		82	60.4
Retail Notes and Financing Leases | Construction and forestry | 60-89 Days Past Due
Age Credit Quality Analysis
Total Receivables		38.8	14.6
Retail Notes and Financing Leases | Construction and forestry | 90 Days or Greater Past Due
Age Credit Quality Analysis
Total Receivables		1.9
Revolving charge accounts
Age Credit Quality Analysis
Total Receivables	$ 3,687.7	3,827.4	3,918.3
Revolving charge accounts | Agriculture and turf
Age Credit Quality Analysis
Non-performing		5.4	7.4
Revolving charge accounts | Agriculture and turf | Current
Age Credit Quality Analysis
Total Receivables		3,710.3	3,794.6
Revolving charge accounts | Agriculture and turf | 30-59 Days Past Due
Age Credit Quality Analysis
Total Receivables		11.5	18.3
Revolving charge accounts | Agriculture and turf | 60-89 Days Past Due
Age Credit Quality Analysis
Total Receivables		3.5	3.5
Revolving charge accounts | Construction and forestry
Age Credit Quality Analysis
Non-performing		0.9	0.7
Revolving charge accounts | Construction and forestry | Current
Age Credit Quality Analysis
Total Receivables		92.3	90.2
Revolving charge accounts | Construction and forestry | 30-59 Days Past Due
Age Credit Quality Analysis
Total Receivables		2.4	2.6
Revolving charge accounts | Construction and forestry | 60-89 Days Past Due
Age Credit Quality Analysis
Total Receivables		$ 1.1	$ 1

Receivables - Wholesale Receiva

Receivables - Wholesale Receivables Credit Quality Analysis (Details) - USD ($) $ in Millions	Aug. 01, 2021	Nov. 01, 2020	Aug. 02, 2020
Credit Quality Analysis
Total Receivables	$ 36,683.2	$ 33,557.3	$ 33,649.3
Wholesale Receivables
Credit Quality Analysis
2021	268.4
2020	111.3
2019	34.5
2018	12.9
2017	3.1
Prior	0.5
Revolving	7,300.5
Total Receivables	7,731.2	7,093.3	8,428.8
Wholesale Receivables | Agriculture and turf | 30-59 Days Past Due
Credit Quality Analysis
Revolving	10.1
Total Receivables	10.1	3.9	10.9
Wholesale Receivables | Agriculture and turf | 60-89 Days Past Due
Credit Quality Analysis
Revolving	3.8
Total Receivables	3.8	4.4	1.1
Wholesale Receivables | Agriculture and turf | 90 Days or Greater Past Due
Credit Quality Analysis
Revolving	2.8
Total Receivables	2.8	1.1	1.4
Wholesale Receivables | Agriculture and turf | Current
Credit Quality Analysis
2021	260.9
2020	106.2
2019	30.6
2018	12.5
2017	3.1
Prior	0.5
Revolving	5,946
Total Receivables	6,359.8
Wholesale Receivables | Agriculture and turf | Non-performing
Credit Quality Analysis
Revolving	4.3
Total Receivables	4.3
Wholesale Receivables | Construction and forestry | 30-59 Days Past Due
Credit Quality Analysis
Revolving	1.3
Total Receivables	1.3	$ 0.3	3.4
Wholesale Receivables | Construction and forestry | 60-89 Days Past Due
Credit Quality Analysis
Revolving	0.2
Total Receivables	0.2		0.3
Wholesale Receivables | Construction and forestry | 90 Days or Greater Past Due
Credit Quality Analysis
Total Receivables			$ 1.1
Wholesale Receivables | Construction and forestry | Current
Credit Quality Analysis
2021	7.5
2020	5.1
2019	3.9
2018	0.4
Revolving	1,332
Total Receivables	$ 1,348.9

Receivables - Wholesale Recei_2

Receivables - Wholesale Receivables Age Credit Quality Analysis (Details) - USD ($) $ in Millions	Aug. 01, 2021	Nov. 01, 2020	Aug. 02, 2020
Age Credit Quality Analysis
Total Receivables	$ 36,683.2	$ 33,557.3	$ 33,649.3
Wholesale Receivables
Age Credit Quality Analysis
Total Receivables	7,731.2	7,093.3	8,428.8
Wholesale Receivables | Agriculture and turf
Age Credit Quality Analysis
Non-performing		4	3.8
Wholesale Receivables | Agriculture and turf | Current
Age Credit Quality Analysis
Total Receivables		5,693.7	6,905
Wholesale Receivables | Agriculture and turf | 30-59 Days Past Due
Age Credit Quality Analysis
Total Receivables	10.1	3.9	10.9
Wholesale Receivables | Agriculture and turf | 60-89 Days Past Due
Age Credit Quality Analysis
Total Receivables	3.8	4.4	1.1
Wholesale Receivables | Agriculture and turf | 90 Days or Greater Past Due
Age Credit Quality Analysis
Total Receivables	2.8	1.1	1.4
Wholesale Receivables | Construction and forestry
Age Credit Quality Analysis
Non-performing			2.2
Wholesale Receivables | Construction and forestry | Current
Age Credit Quality Analysis
Total Receivables		1,385.9	1,499.6
Wholesale Receivables | Construction and forestry | 30-59 Days Past Due
Age Credit Quality Analysis
Total Receivables	1.3	$ 0.3	3.4
Wholesale Receivables | Construction and forestry | 60-89 Days Past Due
Age Credit Quality Analysis
Total Receivables	$ 0.2		0.3
Wholesale Receivables | Construction and forestry | 90 Days or Greater Past Due
Age Credit Quality Analysis
Total Receivables			$ 1.1

Receivables - Allowance for Cre

Receivables - Allowance for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020	Nov. 01, 2020
Receivable, Allowance for Credit Losses
Recoveries from credit enhancements	$ 3.2		$ 9.8
Allowance:
Beginning of period balance	129.8	$ 139.8	129.1	$ 100.6
Provision (credit) for credit losses	15.7	16	(2.6)	100.8
Write-offs	(17.1)	(26.9)	(42.7)	(90.6)
Recoveries	10.8	10.9	34.7	27.6
Translation adjustments	(0.2)	0.8	0.8	2.2
End of period balance	139	140.6	139	140.6
Receivables:
End of period balance	36,683.2	33,649.3	36,683.2	33,649.3	$ 33,557.3
Increase (decrease) in allowance for credit losses	9.2		9.9	40
Cumulative Effect from Adoption | ASU 2016-13
Allowance:
Beginning of period balance			19.7
Unfunded Commitments
Allowance:
Provision (credit) for credit losses	0		2.1
Customer Receivables
Receivables:
End of period balance	28,952	25,220.5	28,952	25,220.5	26,464
Retail Notes and Financing Leases
Allowance:
Beginning of period balance	101.3	88.4	76.9	53.7
Provision (credit) for credit losses	13.6	3.3	11.2	70.5
Write-offs	(8.5)	(5.5)	(19.7)	(39.6)
Recoveries	3.2	2.4	8.1	4.5
Translation adjustments	(0.2)	0.4	0.4	(0.1)
End of period balance	109.4	89	109.4	89
Receivables:
End of period balance	25,264.3	21,302.2	25,264.3	21,302.2	22,636.6
Retail Notes and Financing Leases | Cumulative Effect from Adoption | ASU 2016-13
Allowance:
Beginning of period balance			32.5
Revolving charge accounts
Allowance:
Beginning of period balance	18.9	42.3	42.3	39.3
Provision (credit) for credit losses	(0.1)	13.2	(15.9)	31.3
Write-offs	(8.4)	(21.3)	(22.7)	(50.1)
Recoveries	7.6	8.1	26.6	21.8
Translation adjustments	0.1
End of period balance	18.1	42.3	18.1	42.3
Receivables:
End of period balance	3,687.7	3,918.3	3,687.7	3,918.3	3,827.4
Revolving charge accounts | Cumulative Effect from Adoption | ASU 2016-13
Allowance:
Beginning of period balance			(12.2)
Wholesale Receivables
Allowance:
Beginning of period balance	9.6	9.1	9.9	7.6
Provision (credit) for credit losses	2.2	(0.5)	2.1	(1)
Write-offs	(0.2)	(0.1)	(0.3)	(0.9)
Recoveries		0.4		1.3
Translation adjustments	(0.1)	0.4	0.4	2.3
End of period balance	11.5	9.3	11.5	9.3
Receivables:
End of period balance	$ 7,731.2	$ 8,428.8	7,731.2	$ 8,428.8	$ 7,093.3
Wholesale Receivables | Cumulative Effect from Adoption | ASU 2016-13
Allowance:
Beginning of period balance			$ (0.6)

Receivables - Troubled Debt Res

Receivables - Troubled Debt Restructurings (Details) $ in Millions	9 Months Ended
	Aug. 01, 2021USD ($)item	Aug. 02, 2020USD ($)item
Receivables Related to Troubled Debt Restructurings
Receivable contracts in troubled debt restructuring, number | item	287	328
Receivables in troubled debt restructurings, aggregate balances, pre-modification	$ 10.3	$ 12.6
Receivables in troubled debt restructurings, aggregate balances, post-modification	9.4	11.6
Receivable contracts in troubled debt restructuring, subsequently defaulted	0	$ 0
Commitments to lend additional funds to borrowers whose accounts were modified in troubled debt restructurings	$ 0

Securitization of Receivables_2

Securitization of Receivables (Details) - USD ($) $ in Millions	9 Months Ended
	Aug. 01, 2021	Nov. 01, 2020	Aug. 02, 2020
Securitization of Receivables
Unconsolidated conduits, carrying value of liabilities	$ 38,812.6	$ 36,559	$ 36,982.2
Retail notes securitized	5,408.2	4,689.2	5,446.2
Allowance for credit losses - securitization transactions	(19.9)	(12.6)	(14)
Other assets - securitization transactions	112.7	97.9	104
Total restricted securitized assets - securitization transactions	5,501	4,774.5	5,536.2
Securitization borrowings	5,264.6	4,656.2	5,324.1
Accrued interest on borrowings - securitization transactions	2.1	3.2	4.1
Total liabilities related to restricted securitized assets - securitization transactions	$ 5,266.7	4,659.4	5,328.2
Maximum remaining term of all restricted receivables	7 years
VIE-Primary Beneficiary
Securitization of Receivables
Total restricted securitized assets - securitization transactions	$ 3,605.3	2,897.5	3,342.5
Total liabilities related to restricted securitized assets - securitization transactions	3,487.2	2,856.2	3,258.8
Non-VIE Banking Operation
Securitization of Receivables
Total restricted securitized assets - securitization transactions	554.5	549.7	642.4
Total liabilities related to restricted securitized assets - securitization transactions	520.5	528.1	606
VIE-Not Primary Beneficiary
Securitization of Receivables
Unconsolidated conduits, carrying value of liabilities	1,259
Unconsolidated conduits, maximum exposure to loss	1,341.2
Total assets	37,000
Total restricted securitized assets - securitization transactions	1,341.2	1,327.3	1,551.3
Total liabilities related to restricted securitized assets - securitization transactions	$ 1,259	$ 1,275.1	$ 1,463.4

Leases - Lease Revenues (Detail

Leases - Lease Revenues (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020
Lessor
Sales-type and direct finance lease revenues	$ 12.7	$ 12	$ 35.8	$ 34.3
Operating lease revenues	237.9	253.5	724.3	768.8
Variable lease revenues	5.1	4.8	15.4	14.7
Total lease revenues	$ 255.7	$ 270.3	$ 775.5	$ 817.8

Leases - Cost of Equipment on O

Leases - Cost of Equipment on Operating Leases (Details) - USD ($) $ in Millions	9 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Nov. 01, 2020
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	$ 6,434.7	$ 6,731.1	$ 6,805.7
Accumulated depreciation	(1,470.9)	(1,473.9)	(1,507.9)
Equipment on operating leases - net	4,963.8	5,257.2	5,297.8
Impairment losses on operating leases	0	21
Operating lease residual value	3,598.9	3,791.7	3,826.3
Operating lease residual value guarantees	247.3	110.1	141
Matured operating lease inventory	46.9	100.7	64.5
Impairment losses on matured operating lease inventory	0	9.8
Agriculture and turf equipment
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	5,043.4	5,082.8	5,210.4
Construction and forestry
Cost of Equipment on Operating Leases
Equipment on operating leases - gross	$ 1,391.3	$ 1,648.3	$ 1,595.3

Leases - Short-term Relief to L

Leases - Short-term Relief to Lessees (Details)	Aug. 01, 2021
COVID-19
Lessor
Percentage of operating lease portfolio granted relief	2.00%

Notes Receivable from John De_3

Notes Receivable from John Deere (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020	Nov. 01, 2020
John Deere
Notes Receivable from John Deere
Maximum remaining term for related party notes receivable			7 years
Interest earned	$ 3.8	$ 4.4	$ 10.3	$ 12.4
Notes receivable from John Deere	366	366.8	366	366.8	$ 350
Limited Liability Company John Deere Financial
Notes Receivable from John Deere
Notes receivable from John Deere	198.6	125.6	198.6	125.6	132.5
Banco John Deere S.A.
Notes Receivable from John Deere
Notes receivable from John Deere	$ 167.4	$ 241.2	$ 167.4	$ 241.2	$ 217.5

Long-Term Borrowings (Details)

Long-Term Borrowings (Details) - USD ($) $ in Millions	Aug. 01, 2021	Nov. 01, 2020	Aug. 02, 2020
Long-Term Borrowings
Total senior debt	$ 20,193.9	$ 19,358.8	$ 20,543.1
Unamortized debt discount and debt issuance costs	(57.2)	(47.7)	(51)
Total	20,136.7	19,311.1	20,492.1
Medium-term notes
Long-Term Borrowings
Total senior debt	20,174.1	19,320.6	20,499.8
Principal amount	19,722.5	18,668.9	19,722.7
Other notes
Long-Term Borrowings
Total senior debt	$ 19.8	$ 38.2	$ 43.3

Commitments and Contingencies -

Commitments and Contingencies - Guarantees (Details) $ in Millions	9 Months Ended
	Aug. 01, 2021USD ($)
John Deere Financial Inc. | Guarantees of debt and derivatives | Medium-term notes.
Guarantee Obligations
Guarantee obligations maximum exposure	$ 2,049.2
Weighted average interest rate (as a percent)	2.20%
Maximum remaining maturity	6 years
John Deere Financial Inc. | Guarantees of debt and derivatives | Derivative Instruments
Guarantee Obligations
Guarantee obligations maximum exposure	$ 43.6
Notional amount	3,021.5
John Deere Canada Funding Inc. (JDCFI) | VIE-Not Primary Beneficiary
Guarantee Obligations
Carrying value of assets or liabilities related to JDCFI	0
John Deere Canada Funding Inc. (JDCFI) | VIE-Not Primary Beneficiary | Guarantees of debt and derivatives
Guarantee Obligations
Guarantee obligations maximum exposure	$ 964.3
Weighted average interest rate (as a percent)	2.60%
Maximum remaining maturity	2 years

Commitments and Contingencies_2

Commitments and Contingencies - Commitments (Details) $ in Millions	Aug. 01, 2021USD ($)
Limited Liability Company John Deere Financial
Commitments
Unused commitments	$ 131.2
John Deere dealers
Commitments
Unused commitments	10,000
Customers
Commitments
Unused commitments	$ 28,800
Minimum percentage of unused commitments to extend credit to customers that relate to revolving charge accounts	95.00%

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	Aug. 01, 2021	Nov. 01, 2020	Aug. 02, 2020
Unrecognized Tax Benefits
Unrecognized tax benefits	$ 29.6	$ 33.3	$ 31
Unrecognized tax benefits affecting effective tax rate if recognized	$ 19.9	$ 17.2	$ 16.1

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments (Details) - USD ($) $ in Millions	Aug. 01, 2021	Nov. 01, 2020	Aug. 02, 2020
Fair Values of Financial Instruments
Securitization borrowings	$ 5,264.6	$ 4,656.2	$ 5,324.1
Current maturities of long-term borrowings	5,746	5,741.6	4,910.2
Long-term borrowings	20,136.7	19,311.1	20,492.1
Level 3
Fair Values of Financial Instruments
Receivables financed - net	31,264.6	28,931.7	28,275.8
Retail notes securitized - net	5,454.3	4,772.9	5,543.9
Level 2
Fair Values of Financial Instruments
Securitization borrowings	5,289.3	4,697.6	5,380.7
Current maturities of long-term borrowings	5,800.4	5,801.1	4,958.2
Long-term borrowings	20,557.9	19,784.4	21,038.2
Carrying Value
Fair Values of Financial Instruments
Receivables financed - net	31,155.9	28,751.6	28,076.5
Retail notes securitized - net	5,388.3	4,676.6	5,432.2
Securitization borrowings	5,264.6	4,656.2	5,324.1
Current maturities of long-term borrowings	5,746	5,741.6	4,910.2
Long-term borrowings	$ 20,136.7	$ 19,311.1	$ 20,492.1

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities - Recurring (Details) - USD ($) $ in Millions	Aug. 01, 2021	Nov. 01, 2020	Aug. 02, 2020
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Marketable securities	$ 2.1	$ 2.2	$ 2.4
Derivative assets	334.2	587	808.2
Derivative liabilities	47.4	31	48.8
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Total assets	336.3	589.2	810.6
Total liabilities	47.4	31	48.8
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2 | Interest rate contracts | Receivables from John Deere
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Derivative assets	331.7	575.5	795.4
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2 | Interest rate contracts | Other payables to John Deere
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Derivative liabilities	43.4	29.4	42.5
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2 | Foreign exchange contracts | Other Assets
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Derivative assets	0.5	3.8	3.7
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2 | Foreign exchange contracts | Accounts payable and accrued expenses
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Derivative liabilities	1.7	0.9	6.2
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2 | Cross-currency interest rate contracts | Receivables from John Deere
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Derivative assets	2	7.7	9.1
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2 | Cross-currency interest rate contracts | Other payables to John Deere
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Derivative liabilities	2.3	0.7	0.1
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Level 2 | International Debt Securities | Marketable Securities
Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis
Marketable securities	$ 2.1	$ 2.2	$ 2.4

Fair Value Measurements - Contr

Fair Value Measurements - Contractual Maturities of Debt Securities (Details) $ in Millions	Aug. 01, 2021USD ($)
Contractual Maturities of Debt Securities, Amortized Cost
Amortized cost basis	$ 4.7
Contractual Maturities of Debt Securities, Fair Value
Fair value	$ 2.1

Fair Value Measurements - Nonre

Fair Value Measurements - Nonrecurring, Level 3 Measurements (Details) - USD ($) $ in Millions	9 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Nov. 01, 2020
Fair Value, Nonrecurring Level 3 Measurements from Impairments
Equipment on operating leases - net	$ 4,963.8	$ 5,257.2	$ 5,297.8
Losses, Equipment on operating leases - net	0	21
Losses, Other assets	$ 0	9.8
Fair Value, Nonrecurring Measurements | Level 3
Fair Value, Nonrecurring Level 3 Measurements from Impairments
Equipment on operating leases - net			340.3
Losses, Equipment on operating leases - net		21
Other assets			56.5
Losses, Other assets		9.8
Total assets			$ 396.8
Total losses		$ 30.8

Derivative Instruments - Cash F

Derivative Instruments - Cash Flow Hedges (Details) - USD ($) $ in Millions	9 Months Ended
	Aug. 01, 2021	Nov. 01, 2020	Aug. 02, 2020
Cash Flow Hedges
Cash flow hedge loss recorded in OCI to be reclassified within twelve months	$ (1)
Gains or losses reclassified from OCI to earnings	0
Interest rate contracts | Cash flow hedges | Designated as Hedging Instruments
Cash Flow Hedges
Notional amounts	$ 1,750	$ 1,550	$ 1,900

Derivative Instruments - Fair V

Derivative Instruments - Fair Value Hedges (Details) - Interest rate contracts - USD ($) $ in Millions	Aug. 01, 2021	Nov. 01, 2020	Aug. 02, 2020
Fair Value Hedges | Designated as Hedging Instruments
Fair Value Hedges
Notional amounts	$ 7,934.9	$ 6,525.7	$ 8,179.8
Current Maturities of Long-term Borrowings
Borrowings Designated in Fair Value Hedging Relationships
Carrying Amount of Hedged Item	187.8	2.5	104.6
Active Hedging Relationships	4		2.6
Discontinued Relationships	(0.9)	2.5	2
Total	3.1	2.5	4.6
Long-term Borrowings
Borrowings Designated in Fair Value Hedging Relationships
Carrying Amount of Hedged Item	8,165.4	7,149.8	8,826.4
Active Hedging Relationships	261.3	530	737.6
Discontinued Relationships	190.3	121.6	39.5
Total	$ 451.6	$ 651.6	$ 777.1

Derivative Instruments - Not De

Derivative Instruments - Not Designated as Hedging Instruments (Details) - Not Designated as Hedging Instruments - USD ($) $ in Millions	Aug. 01, 2021	Nov. 01, 2020	Aug. 02, 2020
Interest rate contracts
Derivatives Not Designated as Hedging Instruments
Notional amounts	$ 2,921.4	$ 2,336.6	$ 2,423.2
Interest rate caps | Sold
Derivatives Not Designated as Hedging Instruments
Notional amounts	1,807.6	1,961.4	2,171
Interest rate caps | Purchased
Derivatives Not Designated as Hedging Instruments
Notional amounts	1,807.6	1,961.4	2,171
Foreign exchange contracts
Derivatives Not Designated as Hedging Instruments
Notional amounts	98	172.6	211.1
Cross-currency interest rate contracts
Derivatives Not Designated as Hedging Instruments
Notional amounts	$ 197.4	$ 111.5	$ 123.5

Derivative Instruments - Fair_2

Derivative Instruments - Fair Value (Details) - USD ($) $ in Millions	Aug. 01, 2021	Nov. 01, 2020	Aug. 02, 2020
Fair Value of Derivative Instruments
Total derivative assets	$ 334.2	$ 587	$ 808.2
Total derivative liabilities	47.4	31	48.8
Designated as Hedging Instruments | Interest rate contracts | Receivables from John Deere
Fair Value of Derivative Instruments
Total derivative assets	321	565.2	785.3
Designated as Hedging Instruments | Interest rate contracts | Other payables to John Deere
Fair Value of Derivative Instruments
Total derivative liabilities	32.3	12.7	24.1
Not Designated as Hedging Instruments | Receivables from John Deere
Fair Value of Derivative Instruments
Total derivative assets	12.7	18	19.2
Not Designated as Hedging Instruments | Other Assets
Fair Value of Derivative Instruments
Total derivative assets	0.5	3.8	3.7
Not Designated as Hedging Instruments | Other payables to John Deere
Fair Value of Derivative Instruments
Total derivative liabilities	13.4	17.4	18.5
Not Designated as Hedging Instruments | Interest rate contracts | Receivables from John Deere
Fair Value of Derivative Instruments
Total derivative assets	10.7	10.3	10.1
Not Designated as Hedging Instruments | Interest rate contracts | Other payables to John Deere
Fair Value of Derivative Instruments
Total derivative liabilities	11.1	16.7	18.4
Not Designated as Hedging Instruments | Foreign exchange contracts | Other Assets
Fair Value of Derivative Instruments
Total derivative assets	0.5	3.8	3.7
Not Designated as Hedging Instruments | Foreign exchange contracts | Accounts payable and accrued expenses
Fair Value of Derivative Instruments
Total derivative liabilities	1.7	0.9	6.2
Not Designated as Hedging Instruments | Cross-currency interest rate contracts | Receivables from John Deere
Fair Value of Derivative Instruments
Total derivative assets	2	7.7	9.1
Not Designated as Hedging Instruments | Cross-currency interest rate contracts | Other payables to John Deere
Fair Value of Derivative Instruments
Total derivative liabilities	$ 2.3	$ 0.7	$ 0.1

Derivative Instruments - Gains

Derivative Instruments - Gains (Losses) on Statement of Consolidated Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	$ (7.4)	$ (49.4)	$ (24.5)	$ 44.3
John Deere
Classification and gains (losses) including accrued interest expense related to derivative instruments
Gain (loss) on derivative transactions with affiliate party	133.3	62.8	(91.6)	568.1
Interest rate contracts
Classification and gains (losses) including accrued interest expense related to derivative instruments
Cash flow hedges, recognized in OCI	(0.9)	(1.1)	(0.8)	(17.6)
Interest rate contracts | Interest expense
Classification and gains (losses) including accrued interest expense related to derivative instruments
Fair value hedges, gains (losses)	139.9	76.7	(70.7)	568
Cash flow hedges, reclassified from OCI	(1.6)	(6.4)	(8.2)	(11.5)
Not designated as hedges, gains (losses)	(2.9)	(2.2)	(4.5)	(3)
Foreign exchange contracts | Administrative and operating expenses
Classification and gains (losses) including accrued interest expense related to derivative instruments
Not designated as hedges, gains (losses)	$ (4.5)	$ (47.2)	$ (20)	$ 47.3

Derivative Instruments - Counte

Derivative Instruments - Counterparty Risk and Collateral (Details) - USD ($) $ in Millions	Aug. 01, 2021	Nov. 01, 2020	Aug. 02, 2020
Derivative assets
Gross Amounts Recognized	$ 334.2	$ 587	$ 808.2
Derivative liabilities
Gross Amounts Recognized	47.4	31	48.8
John Deere
Derivative assets
Gross Amounts Recognized	333.7	583.2	804.5
Netting Arrangements	(43.1)	(23.5)	(35.4)
Net Amount	290.6	559.7	769.1
Derivative liabilities
Gross Amounts Recognized	45.7	30.1	42.6
Netting Arrangements	(43.1)	(23.5)	(35.4)
Net Amount	2.6	6.6	7.2
External
Derivative assets
Gross Amounts Recognized	0.5	3.8	3.7
Netting Arrangements	(0.1)	(0.7)	(0.2)
Net Amount	0.4	3.1	3.5
Derivative liabilities
Gross Amounts Recognized	1.7	0.9	6.2
Netting Arrangements	(0.1)	(0.7)	(0.2)
Net Amount	1.6	0.2	6
Derivative Instruments | John Deere
Counterparty Risk and Collateral
Increase in maximum loss if derivative counterparties fail to meet obligations - loss sharing agreement	$ 0	$ 0	$ 0

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits - Defined Benefit Plan (Details) - Health Care and Life Insurance - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Feb. 02, 2020	Aug. 01, 2021	Aug. 02, 2020
Defined Benefit Plan Disclosure
Expenses related to defined benefit plans	$ 1.5	$ 1.7		$ 4.6	$ 8.3
2020 Employee-Separation Programs
Defined Benefit Plan Disclosure
Curtailments			$ 3.3

Employee-Separation Programs (D

Employee-Separation Programs (Details) - 2020 Employee-Separation Programs - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Feb. 02, 2020	Aug. 02, 2020
Employee Separation Programs
Total employee separation programs' expenses, pretax		$ 8.7
Health Care and Life Insurance
Employee Separation Programs
Curtailment expense	$ 3.3
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Curtailment Gain (Loss), Statement of Income or Comprehensive Income [Extensible List]	Selling, General and Administrative Expense